The Central Bank of Nigeria (CBN), yesterday, declared in Abuja that rising inflation and exchange rates in the country will drastically reduce in 2024.
The apex bank also projected less revenue from oil exports in the 2024 fiscal year, just as it declared that total trade from Nigerian Foreign Exchange Market (NFEM), stood at N18.804 billion in the third quarter (Q3) of 2023.
The CBN Governor, Olayemi Cardoso, made the statements in his presentation at the National Assembly joint committee on Banking, Insurance and other Financial Institutions.
Cardoso explained to members of the committee from both chambers of the National Assembly, that the outlook for domestic economy in Nigeria for next year is very positive as both inflation and exchange rates would withstand fluctuating pressures on them and get stabilized.