Naira: Why FAAC releases worsen FX pressures – CBN Governor, Cardoso …C0NTINUE READING HERE >>>
The Governor of the Central Bank of Nigeria, Olayemi Cardoso has explained that monthly revenue releases by the Federal Account Allocation Committee, FAAC are impacting Nigeria’s foreign exchange pressures.
Cardoso disclosed this in his remarks after the CBN 297th Monetary Policy Committee meeting on Tuesday.
He raised alarm over the growing level of fiscal deficit in the country.
The apex bank Boss added that members of MPC have observed a strong correlation between FAAC and the…
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