MARKET NEWS
Naira gains flip firms’ FX playbook - BUSINESSDAY
Chief Financial Officers and treasury managers across Nigeria are rethinking the strategy on their dollar stockpiles. For years, the corporate playbook used to be simple: hold dollars to avoid the naira's collapse. However, improved liquidity in the official FX market and attractive returns on naira-based investments have eroded the appeal of the dollar as a safety net. “We’re beginning to rethink our treasury strategy as the naira continues to strengthen. We’re seeing those that have large savings in dollars beginning to offload them,”
