BusinessFX Crisis: Nigeria’s foreign trade payments drop 57% to $391.91 million
Nigeria’s Letter of Credit (LC) payments for imported goods have seen a dramatic decline of 57.04%, plummeting to $391.91 million in the first seven months of 2024, compared to $912.35 million during the same period in 2023. This data is outlined in the Central Bank of Nigeria’s (CBN) weekly report on international payments, which can…