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CBN Resolves $500 Million FX Backlog to Tackle Naira’s Decline

Yesterday, the Central Bank of Nigeria (CBN) announced the release of an additional $500 million to address verified outstanding foreign exchange (FX) liabilities in various sectors of the economy. This move aimed to counter the persistent decline of the Naira in both official and parallel markets. However, the injection did not alleviate the Naira’s struggles, […]