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How does the Nigerian government address issues of currency exchange and forex management for exporters?

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(@helen-olamide)
Posts: 2050
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[#3295]

How does the Nigerian government address issues of currency exchange and forex management for exporters?


 
Posted : 29/04/2024 4:46 pm
(@edwardadex233)
Posts: 1000
Noble Member
 

The Nigerian government addresses issues of currency exchange and forex management for exporters by 

 

 Liberalizing the foreign exchange market to allow market forces to determine the value of the naira.

Implementing a managed floating exchange rate regime to enhance efficiency and facilitate a more liquid and transparent foreign exchange market.

 Allowing the naira to float freely in the inter-bank foreign exchange market.

Introducing a new foreign exchange policy that allows market forces to determine the exchange rate.

 Implementing a system of "guided deregulation" to manage the foreign exchange market.

 Encouraging the development of institutions such as the Nigerian Export Promotion Council (NEPC) and the Nigerian Export-Import Bank (NEXIM) to earn more foreign exchange.


 
Posted : 01/05/2024 7:47 pm
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