•Says FX inflows hit $24bn in Q1
•Declares recapitalisation will boost banks’ resilience, support for economy
•Voids price verification system for import and export transactions effective July 1
Emmanuel Addeh and James Emejo in Abuja
Governor of Central Bank of Nigeria (CBN), Mr. Olayemi Cardoso, has said the country currently does not need any concessionary funding intervention from the International Monetary Fund (IMF), as it has “access to enough exposures from different areas that should be able to see us through”.
Cardoso, in a 20-minute interview with Bloomberg, also disclosed that the country’s total foreign exchange (FX) inflow hit $24 billion in the first quarter of the year.
He said the problems with Nigeria were only temporary, adding that recent policy efforts by the fiscal authorities are adequate to increase revenues and tax to Gross Domestic Product (GDP).
He emphasised that Nigeria was looking to double diaspora…
Source: Thisday Newspaper
