The Governor of the Central Bank of Nigeria, Olayemi Cardoso, says inflationary pressure has started dropping as a result of the central bank’s policy measures, which aims to reduce the current inflation rate of 33.69 per cent.
This was as he revealed that the country recorded a total foreign exchange inflow of about $24bn in the first quarter of 2024, which is about 50 per cent above the inflows recorded in previous quarters up to 2021.
The governor also declared that the days of excessive naira volatility were over, highlighting the positive impact of the monetary policy tools employed by the apex bank to tackle the challenges facing the forex market.
Cardoso made this disclosure during an interview with Bloomberg TV on Tuesday in London, which was monitored by our correspondent, stressing that the Monetary Policy Committee sees inflation as an impediment to the future of Nigeria and would do everything in its control to tackle it.
