Foreign exchange control in Nigeria is enforced by the

Assessment: WAEC SSCE - Economics - 1994 (Objective) Subject: Economics

Question 1 Report

Foreign exchange control in Nigeria is enforced by the
Answer Details
Foreign exchange control in Nigeria is enforced by the Central Bank of Nigeria (CBN). The CBN is responsible for managing the country's monetary policy and regulating the supply and demand of foreign currency in the Nigerian economy. The CBN implements foreign exchange control policies to manage the inflow and outflow of foreign currency, to stabilize the exchange rate, and to ensure that there is enough foreign currency to meet the country's import needs. Through these measures, the CBN seeks to maintain the stability of the Nigerian economy and safeguard the value of the country's currency.
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