₦airaland Forum

Saudi Arabian Government Pledges To Support Nigerian Central Bank With Forex Deposit

e government of Saudi Arabia has pledged to invest in the revamp of Nigeria’s refineries, as well as provide financial support to sustain the government’s foreign exchange reforms.

The pledges were made by the Crown Prince of Saudi, Mohammed bin Salman, at a bilateral meeting with President Bola Tinubu on the sidelines of the Saudi-Africa Summit in Riyadh.

According to a statement signed by the Minister of Information and national orientation, Alhaji Mohammed Idris Malagi on Friday, Salman promised to support the CBN’s ongoing reforms of Nigeria’s foreign exchange regime.

The Saudi government said it would make available a substantial deposit of foreign exchange to boost Nigeria’s Forex liquidity.

The release said the Prince commended the economic reforms being implemented by President Tinubu, and expressed the commitment of the Saudi government to supporting these reforms, and enabling Nigeria to reap the full benefits.


Source: https://wap.org.ng/read/saudi-arabian-government-pledges-to-support-nigerian-central-bank-with-forex-deposit/

Lol lies and propaganda can never solve any of Nigeria’s problems but would rather make it worse . This exact same statement was made after visit to India and then Dubai. Nobody hears anything about those anymore. They made another noise that naira is gaining in forex market because tinubu pumped in $6.5B into forex market hoping that with diaspora end of year remittances dollar will strengthen naira but instead smart people mopped up more of the remaining dollars making it more difficult for naira to bounce back. If Tinubu wasn’t daft and clueless how would he appoint non technocrats that lack requisite skills and experience into key sectors of Nigerian economy at this very critical period for Nigeria? Dollar controls everything meaning that what you bought for 1k in May will be at least 2k in December because Nigeria produces nothing.If Tinubu continue like this the level of extreme hunger, poverty, insecurity, bloodshed and killings that will follow will be unprecedented in history of Africa in the coming months

Shildren of 8, anger, frustration and perdition on their way to go show Saudi govt the full length of their tongues.

This is very commendable, Nigerians are really proud of President TINUBU

And in return, what will Nigeria do for them?

That's the question all these urchins booking space above me should be asking. If we are to boost production and reduce imports, that's where we should be looking.

But I trust the sycophants to just clap and move on to the next praise-singing orchestra.

Mordecai:
And in return, what will Nigeria do for them?

That's the question all these urchins booking space above me should be asking. If we are to boost production and reduce imports, that's where we should be looking.

But I trust the sycophants to just clap and move on to the next praise-singing orchestra.

E pain am

E really pain am

LeoDeKing:
Shildren of 8, anger, frustration and perdition on their way to go show Saudi govt the full length of their tongues.

how big boy
you don resolve am ?

Seriously

PLEASE LET US HAVE A REPORT ON HOW THE CLEAN NAIRA NOTES POLICY OF THE CBN HAS BEEN IMPLEMENTED SINCE 2015?

Islamization will be their gain in return I guess