•Foreign reserves hit $38.2b
Central Bank of Nigeria (CBN) Governor Godwin Emefiele has said the restriction of foreign exchange access for 41 items has led to massive foreign capital inflow.
Inaugurating Unilever Nigeria’s 10 million Euros Blueband factory in Agbara, Ogun State, yesterday, Emefiele said that global confidence in the economy was rising, with investors finding Nigeria’s market irresistible.
Emefiele said the economy was witnessing positive feedback from foreign investors who are seeing great potentials in it. “We are singing positive songs. We have seen growth in Gross Domestic Product (GDP), inflation has dropped while we continue to take impressive steps to strengthen the economy,” he said.
The CBN boss also said foreign exchange reserves had climbed nearly three-year high at $38.2 billion, as more investors key into the opportunities presented by the Investors’ & Exporters Forex Window created in April. The foreign reserve rose to current position from its low of $23 billion in October 2016.
Foreign direct investment rising, says Emefiele
