Nigeria Attracts Over $1 Billion in Foreign Investment After Central Bank Reforms to Stabilize Exchange Rate

Nigeria attracted over $1 billion in foreign capital inflows in the past 2 weeks after central bank reforms
Reforms aimed to improve liquidity, pricing, and investor confidence in the foreign exchange market
Measures included changing the exchange rate method, removing caps on money transfer rates, limiting bank dollar holdings
Central bank governor said the moves have significant potential to reduce exchange rate volatility and inflation
Naira has traded between 1,348-1,479 per dollar since January 29, narrowing the gap to the parallel market rate