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The Central Bank of Nigeria (CBN) governor, Olayemi Cardoso, has explained why Naira made a remarkable rebound and emerged the world’s top-performing currency in April 2024.
Cardoso made this remark in a press briefing on the sidelines of the just concluded World Bank/IMF conference in Washington DC, United States.
This achievement, he said follows a series of foreign exchange market reforms which were supported by positive sentiments from leading international investment institutions.
The Naira had the unenviable position of being the worst currency in the country in March when it fell to as low as N1,600/$1 on the official market and N1800/$1 on the parallel market.
However, it has gained a whopping 45% in April so far.
