The governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has revealed that the country lost more to foreign exchange subsidy than it spent on fuel subsidy.
Advertisement
According to him, Nigeria lost around N6.2trillion to harsh foreign exchange policies and subsidy in the year 2022 compared to N4.5trillion that the country spent on fuel subsidy in the same year.
Speaking at the 2024 Bankers Dinner, Cardoso described foreign exchange subsidy as “the real elephant in the room.”
Details Later…
We’ve got the edge. Get real-time reports, breaking scoops, and exclusive angles delivered straight to your phone. Don’t settle for stale news. Join LEADERSHIP NEWS on WhatsApp for 24/7 updates →
Join Our WhatsApp Channel
