CBN, NSIA to invest N50b in Nigeria Commodity Exchange

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CBN, NSIA to invest N50b in Nigeria Commodity Exchange

Exporters cry out, want CBN to revisit pre-export policy
Godwin Emefiele, CBN Governor.

The Central Bank of Nigeria (CBN) and the Nigeria Sovereign Investment Authority (NSIA) are to invest a fresh N50 billion in the Nigerian Commodity Exchange (NCX), Abuja.

The Governor of the CBN, Mr. Godwin Emefiele, disclosed this , this afternoon, at the Inaugural Meeting of the Steering Committee, set up to reposition the exchange.

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He said that the investment would be made through the Infrastructure Corporation (Infraco) in a push to make the exchange functional and halt the arbitrage of middlemen, under whom Nigerian farmers have suffered for decades.

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Mr. Emefiele also announced the approval of President Muhammadu Buhari to halt the on-going privatization of the Commodity Exchange, as the process was found to have become an obstacle to the repositioning of the organization.

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Details later…

Vanguard News Nigeria

The post CBN, NSIA to invest N50b in Nigeria Commodity Exchange appeared first on Vanguard News.

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