Nigerian recovery plan envisages new exchange rate regime
Plan calls for rationalisation of exchange rate structure
Nigeria’s federal government presented an “economic recovery plan” on March 7, calling for wide-ranging reforms of monetary and fiscal policy.
The plan frankly admits that “the gap between the official and parallel market exchange rates has widened.” The Central Bank of Nigeria (CBN), which administers the country’s exchange rate policy, has changed foreign exchange regulations several times in recent years in an effort to cope with the impact of falling oil prices. The CBN allocates forex
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@centralbanking.com
More on Central Banks
One-fifth of central banks lack defined risk tolerance and strategy
But majority of respondents apply risk management principles to policies and processes
Central bank watch: watchful and wary easing ahead
Franklin Templeton assesses the monetary policy outlook for the Group of 10 central banks, as well as China and South Korea, as 2025 begins
Adoption of governance, risk and compliance systems still partial
Respondents mention main service providers and plans to upgrade
Decentralised risk teams less likely to have chief risk officers
CROs are also less common at Asia-Pacific and European central banks
PBoC provides further financial support for tech firms
Central bank follows up on previous policy and allocates $13.6 billion through lending facility
Credit and counterparty risk gains relevance as most covered risk
But central banks’ top risks vary by geographical regions
Centralised risk teams tend to have more sub-units
Size of central banks with climate change risk unit steadies at 12%
Financial and op risk divisions maintain largest staff
Upper-middle income nations tend to have different staffing priorities