Inflows adding up to $10 billion are to come in in the weeks ahead, said Special Adviser to the President on Economic Affairs Tope Fasua
is a party in order to succour the naira and free up the foreign exchange market, long spooked by an overhang of due dollar obligations.
The inflows, to be supported by proceeds from oil sales and foreign portfolio investors, are pivotal for the race to salvage the local currency from a continuous plunge to record lows against the dollar. Mr Fasua, whose post distilled the key deliverables that President Bola Tinubu and his team presented at the Day 1 of the 29th Nigerian Economic Summit Group, remarked that an executive order has been issued to permit the creation of foreign currency instruments that will make"everyone bring their cash into official sources."
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