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The Economy & You

The Economy and You (Tunji Andrews)

The new forex allocation to SMEs triggered some mixed reactions among the stakeholders in foreign exchange market in Nigeria. This action has opened forex window for SMEs to the tune of $20,000, per customer per quarter and this will reasonably address the FOREX challenges of the SMEs and encourage productivity in the country. While stakeholders and analysts are diverse in their reactions to the new policy, Manufacturing of Nigeria (MAN) and Lagos Chamber of Commerce and Industry, (LCCI), said the new CBN guideline on special FX allocation to SMEs is commendable as it would trigger productivity, employment and wealth creation in the country. In this episode we will be looking at the impact of the current FOREX allocation on Small Businesses in Nigeria.

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