Cardoso, however, assured Nigerians that the CBN is doing everything possible to ensure that Nigeria achieves a stable exchange rate.
The CBN governor spoke in a joint briefing on the sidelines of the just-concluded World Bank/IMF Spring Meetings in Washington DC.
He said the apex bank is targeting to double the current flows in terms of diaspora remittances.
Cardoso admitted that the target appears very ambitious but expressed confidence in the ability of the country to accomplish it, adding that the response from the foreign portfolio investors has been positive.
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