The financial markets have responded positively to the Financial Action Task Force FATF removal of Nigeria from its grey list of countries with money laundering and terrorist financing risks. The naira, foreign reserves and investors confidence have soared to new heights.
The naira hit a 10-month high of N1,444.42/ at the official markets last Wednesday as more dollar holders offload their positions. The Central Bank of Nigeria CBN-led reforms in the financial markets are tipped as major consideration driving the positive market sentiments and expected investment inflows to the domestic economy.