Nigeria’s central bank has introduced a digital invoicing system for importers and exporters to curb over-pricing, the deputy governor said.
The new system that became operational Feb. 1, seeks to “save more foreign exchange earnings that will be channeled to the most productive sectors of the economy,” said Kingsley Obiora in a communique published Friday on January’s monetary policy committee meeting. “This will boost local production capacity, promote inclusive growth and sustain a strong naira exchange rate,” he said…
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