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Nigeria’s Currency Reform Creates Investment Opening, Says Bank Chief

Nigerian Central Bank Governor Cardoso is promoting investment opportunities created by recent currency reforms, which led to a 41% naira depreciation in 2023.

Since his appointment in September 2023, the central bank has implemented aggressive measures including an 875 basis point rate hike to 27.5%, cleared forex backlogs, and restructured exchange rate policies.

These reforms attracted over $6 billion in foreign investment last year, with analysts at Deutsche Bank projecting naira stabilization at 1,500 to the dollar.

The bank plans additional reforms in 2024, including new forex codes to ensure market transparency.

Original Source: Bloomberg

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News
Gold Breaks $5,500 as Metals Rally Accelerates 
Read More
Articles
Gold’s Purchasing Power: What One Ounce Buys Over Time
Read More
News
Gold Breaks $5,300 as Fed Meets, Dollar Craters 
Read More
News

Gold Breaks $5,500 as Metals Rally Accelerates 

Gold rockets past $5,500 per ounce, hitting fresh records as investors pile into safe-haven assets. Global gold demand reached an all-time high in 2025, while Bitcoin’s “digital gold” narrative takes a hit. Copper surges on China speculation, and the Fed holds rates steady at 3.5-3.75%.

Read More »
January 29, 2026
News

Gold Breaks $5,300 as Fed Meets, Dollar Craters 

Gold surged past $5,300 for the first time as the Federal Reserve begins its policy meeting amid growing dollar concerns. Silver hit $116, squeezing solar manufacturers. The dollar dropped to four-year lows on Fed independence fears. Meanwhile, Australia’s inflation is heading the opposite direction.

Read More »
January 28, 2026
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