NIGERIA FACE WITH FOREX SCARCITY, AMID COVID 19 EFFECTS

The impact of the Covid -19 pandemic and the drop in the oil price has further affected the Nigeria’s economy, as the country faces forex currency liquidity shortage for the first time in four years.

The country’s central bank has held evaluation process, as part of strategies to mitigate the pressure on local currency.

Experts say, the situation may remain the same for the next eighteen months, if the global oil market did not change.

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