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Can CBN Sustain the Gains of New Forex Policy?

Mar 7, 2017 - The Guardian (London)

On February 20, the Central Bank of Nigeria (CBN) put in place a new foreign exchange (Forex) policy on personal travel allowances and school fees in a bid to strengthen the naira.

The bank said it took the decision to make foreign currency exchange easier for Nigerians and reduce the stress often caused by currency hoarders and speculators. The decision followed appeals by the Federal Executive Council to CBN to review its foreign exchange policy to boost the nation's economic activities.

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