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NIPC, MDAs in Talk With CBN Over ‘Friendly’ Exchange Rate

The Executive Secretary and Chief Executive officer, Nigeria Investment Promotion Commission (NIPC), Ms Yewande Sadiku has said the commission, together with some Ministries, Departments and Agencies (MDAs), is in talks with the Central Bank of Nigeria (CBN) towards a more investor friendly exchange rate. Speaking at the Renaissance Capital 10th annual Pan Africa 1:1, Investor conference in Lagos, Sadiku said in spite of the stability in the exchange rate market, foreign investors still express concerns.

She stated that the NIPC is interested in rates that will help in seeing more investments in Nigeria in line with what government’s agenda adding that the commission is doing some works to see it moves closer to what government documented intention is.

“The same manner we are doing this is the way we advocated for the introduction of the change in foreign exchange regime in 2017, where a lot of that work was done behind the scenes with collaboration with other government agencies”, she stated.

Chairman of the Board, Renaissance Capital Christophe Charlier, said:  “the key takeaway from this conference is that investors focus too strongly on the risks, often missing the chance to turn some of the country’s key challenges into viable prospects. Opportunities abound, and Renaissance Capital remains committed to Nigeria and West Africa, which is evidenced by the Firm’s growing share of market and deal pipeline.”

Source: Dailytrust

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