as crude oil price dips
The Central Bank of Nigeria, CBN, has ramped up Measures to attract more foreign exchange, FX, amidst threats to oil revenue arising from the recent decline in crude oil price in the international market.
The apex banks Governor, Yemi Cardoso, is currently placing huge support to non-oil exports to earn more FX revenue by championing backward integration strategy and simplifying dollar remittances for Nigerians in diaspora.
These measures have continued to act as buffers for Nigerias FX position, support naira rally and keep inflation under check.