FX crisis: Nigeria’s foreign trade payments drop by 57% to $391.91m …C0NTINUE READING HERE >>>
Nigeria’s Letter of Credit payments, used for goods importation dropped by 57.04 percent to $391.91 million in the last seven months of 2024 compared to $912.35 million in the same period of 2023.
This is contained in CBN’s weekly data on international payments released on its website.
Analysis of the data showed that in the period under review, the country’s LC payment declined by about $520.44 million.
Accordingly, the highest LC payments in the year so far were recorded in…
>