Friday’s closure was a massive appreciation from the N1,315/$1 it exchanged at the parallel market on Thursday. Finance Minister and Co-ordinating Minister for the Economy, Mr. Wale Edun, had announced that Nigeria expects a $10 billion FX inflow in the next few weeks to ease liquidity in a foreign exchange market. About $7 billion is being expected from Nigerian Liquefied Natural Gas (NLNG) dividend securitisation by a consortium of lenders led by Standard Chartered Bank this next week. Another $3 billion is expected from the over two-month-old emergency loan secured by Nigerian…
Read MoreNaira Pressure Eases On $10b Forex Inflows Prospect
