The Central Bank of Nigeria has signed an agreement with the International Finance Corporation (IFC) to strengthen local currency financing for Nigerian businesses and minimize exchange rate risks. The IFC, a member of the World Bank Group, aims to significantly increase its financing in Nigeria, targeting over one billion dollars in the coming years. This partnership will enable the IFC to better manage exchange rate risks and enhance its naira investments in essential sectors such as agriculture, housing, infrastructure, energy, and small and medium-sized enterprises.
