Volume of transactions in exchange market hit $800m – Cardoso

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The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has stated that Nigeria’s exchange market saw a significant increase in transaction volume, reaching $800 million, marking the first notable surge in quite some time.

He made this claim when speaking to House of Representatives members during the sectoral discussion on the economy.

“We are not a turning point and the bold reforms on the way across different segments of the economy, though initially challenging, are aimed at addressing these challenges sustainably,” he said on Tuesday.

“I am confident that positive outcomes are already emerging and will become more apparent in the near future. The dedicated and relentless efforts being made are certain to bring about significant and positive changes for our economy.

“On that note, I am happy to inform you that as of yesterday, the volume of transactions on our market was over $800 million. This is the first time in many years that it has achieved this level.”