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IMF Partly Blames Uncertainty in Nigeria’s Forex Market for Drop in Remittances

Technology Manias – EᐯEᖇYTᕼIᑎG YOᑌ ᑎEEᗪ IᑎᗪEEᗪ

The uncertainty that prevails in Nigeria’s foreign exchange market is partly to blame for the plunge in cross-border remittances into the country, an official with the International Monetary Fund (IMF) has said. Covid-19 Another Contributing Factor According to a report by local news outlet Punch, the official, Abebe Selassie, said this in response to a question posed to him during a virtual press briefing. However, in his two-part response to the question, Selassie starts by acknowledging the impact the global Covid-19 pandemic has had on cross-border remittances in general. He…

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