The Central Bank of Nigeria has successfully cleared more than $7 billion in unsettled foreign exchange backlogs, a move that has significantly bolstered investor confidence. As a result of these reforms, foreign exchange inflows into the country have surged to $112 billion. This increase in inflows reflects a positive response from the investment community towards the CBN's ongoing efforts to stabilize the foreign exchange market and enhance liquidity. The reforms are expected to further strengthen Nigeria's economic position and attract additional foreign investments.
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