Will the CBN's new exchange rate policies attract foreign investments?
Nigeria's new FX policy and its potential impact on investors

Key questions this article answers:

  1. The CBN recently announced reforms to the foreign exchange market. What implications will these have on Nigeria’s reputation and the economy?

  2. Is this policy sufficient to attract foreign investment back into the country, or should the government do more to attract foreign investment?


Last week, the Central Bank of Nigeria (CBN) issued a circular highlighting new foreign exchange (FX) operations guidelines for the country, and I discussed the changes in Friday’s article.

Essentially, the CBN changed the trading structure to make it more market-led and liberal. This means that individuals and investors (through authorised dealers—mostly banks) should be able to access FX for eligible transactions freely.

While these policies aimed at increasing FX liquidity in the market, this is not the ultimate goal of the CBN—and the federal government. It is simply a means to an end. The end, however, is an enabling environment for

This story is only available to Premium subscribers Subscribe or sign in to finish reading

Not ready to subscribe? Register to read a selection of free stories

Gbemisola Alonge

Gbemisola Alonge

Read Latest

Consumer Goods Transaction Brief: IFC Provides $30M Loan to DPI-backed North African Retail Giant, Kazyon Group

PREMIUM - 14 MAR 2025

Private Capital in Africa 2025: DRC’s Investment Trends & Outlook

PREMIUM - 14 MAR 2025

Private Capital in Africa 2025: Côte d'Ivoire’s Investment Trends & Outlook

PREMIUM - 13 MAR 2025

Technology Transaction Brief: Vumatel Completes the Full Acquisition of South African Fibre Company, Herotel

PREMIUM - 13 MAR 2025

Download our mobile app for a more immersive reading experience

Scan QR code
mobile download