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CBN rules out control of foreign investment

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The Central Bank of Nigeria has said that there are no plans to introduce capital controls despite the current economic challenges facing the nation. According to the CBN Governor, Godwin Emefiele, capital control is a phrase used to describe a phenomenon where when investors bring in capital to a country, there may be some restrictions preventing them from liquidating the investment whenever they decide to do so. He said although several people had asked him if the CBN was planning to introduce capital control, such a move was not being considered as the plan was for Nigeria to remain a free entry and free exit market.

magnoliaCBN rules out control of foreign investment

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