CURRENT REPORT BLOG In response to dollar scarcity challenges, the Central Bank of Nigeria (CBN) has assured the public of adopting strategies to address the issue, as stated by CBN Governor Yemi Cardoso during a House of Representatives’ sectoral debate. Cardoso highlighted initiatives to enhance foreign exchange market liquidity, including unifying market segments, clearing outstanding FX obligations, and implementing new mechanisms for Bureau De Change (BDCs). Despite acknowledging current economic challenges, Cardoso expressed confidence in ongoing reforms and emphasized positive outcomes emerging soon.
The Minister of Finance, Wale Edun, echoed optimism, assuring Nigerians that normalcy would return with increased crude oil production and government palliatives. Emphasizing domestic resource mobilization, Edun acknowledged the current high cost of living but highlighted the government’s efforts to address the situation. The Minister of Budget and National Planning, Atiku Bagudu, and the Chairman of the Federal Inland Revenue Service, Zacch Adedeji, also made presentations during the debate.
