Nigeria Launches Amnesty Program to Reclaim Illegally Held Dollars Amid Forex Strain
Nigeria has introduced a nine-month amnesty program that lets individuals deposit U.S. dollars held outside the formal banking system without penalties.
Finance Minister Wale Edun stated that guidelines from his ministry and the Central Bank of Nigeria will soon follow.
Participants must verify their identity with banks to deposit funds, aiming to bring more dollars into the formal economy, stabilize the exchange rate, and support economic growth.
Clever Robot News Desk 4th November 2024
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