Nigeria’s International Payments Up 31%, Letters of Credit Outlay Down 63.3%

Data from the Central Bank of Nigeria (CBN) has revealed that Nigeria’s overseas payments rose by roughly 31 per cent between January and May 2024, despite the country’s weak foreign exchange liquidity.

The nation’s foreign payments are projected to quicken in the coming months as a result of the government’s intention to increase food imports to supplement domestic output.

Read more at Thisdaylive

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