Central Banks
'Nigeria Is on the Mend' With Its Finances, Central Bank Governor Says
- Central bank chief says backlog of dollar demand nearly clear
- Repeats naira undervalued and foreign investment picking up
Source: Nigeria Central Bank
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Nigerian Central Bank Governor Olayemi Cardoso said the country has almost cleared a backlog of foreign-exchange contracts that have weighed on the naira and repeated that the currency is undervalued.
“We are on the road now where the right policy decisions are being taken,” he said in an interview with Arise Television broadcast on Monday. “Nigeria is on the mend.”