Nigeria’s FX Market Struggles to Regain Stability Amid CBN’s Dollar Intervention
Nigeria’s FX market struggles continue as the Central Bank of Nigeria’s (CBN) latest effort to stabilize the naira has fallen short of expectations. On August 6, 2024, under the new governor, Olayemi Cardoso, the CBN injected a record $815 million directly into businesses, marking the largest single-day intervention in recent history. Despite this significant move,…