Nigeria expects $10 billion in forex inflows in weeks, says Finance Minister

Wale Edun
By Marvellous Nyang

Finance Minister, Wale Edun, says Nigeria expects $10 billion in new foreign currency inflows in the next few weeks to ease liquidity in the foreign exchange market.

Edun who disclosed this in a conference on Monday, October 23, 2023, said that President Bola Tinubu on Thursday signed two executive orders to support the currency market, which has been in freefall due to chronic dollar shortages.

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He said the government would allow domestic issuance of instruments in foreign currency and also allow all cash outside the banking system to be brought into the banks.