Soaring Food, Energy Costs Push Inflation to 15.69%

Inflation in Nigeria has reached 15.69%, driven primarily by rising food and energy costs, with the situation particularly severe in states such as Sokoto, Bauchi, and Zamfara. In response to these economic challenges, the Central Bank of Nigeria's Governor, Cardoso, has introduced a revised foreign exchange manual aimed at enhancing confidence and transparency in the market. This new policy is set to take effect on June 1, and operators have been warned to adhere strictly to its guidelines to avoid any misconduct.

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