Afreximbank report confirms CBN's reforms positively impact Naira, and bank recapitalization policy improves Nigerian banks' resilience.
Afreximbank report confirms CBN's recent reforms positively impact Naira in official and parallel foreign exchange markets. Bank recapitalization policy, despite unpopularity, improves Nigerian banks' resilience, reduces vulnerability to financial shocks, and supports a trillion-dollar economy drive. CBN Deputy Governor, Philip Ikeazor, also addresses rising non-performing loans (NPL) in the Nigerian banking industry, which reached 4.5% (+0.3%), supporting the need for recapitalization.
May 01, 2024
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