Naira Reforms Offer Investors an Opportunity, Nigeria Central Bank Chief Says

Nigerian Central Bank Governor Olayemi Cardoso said exchange-rate reforms that have made the naira more competitive present an opportunity to investors.

“We’ve found ourselves in a situation where the foreign-exchange rate has adjusted,” Cardoso said in a virtual briefing on Thursday, referring to the naira’s sharp depreciation last year. The weakening offers investors the chance to “take advantage” of a currency that has become “a lot more competitive,” he said.