The Central Bank of Nigeria (CBN) has declared that rising inflation and exchange rates in the country will drastically reduce in 2024.

The apex bank also projected less revenue from oil exports in the 2024 fiscal year.

The CBN Governor, OLAYEMI CARDOSO, made the assertions in his presentation at the National Assembly Joint Committee on Banking, Insurance, and Other Financial Institutions.

CARDOSO explained to members of the committee from both chambers of the National Assembly, that the outlook for the domestic economy in Nigeria for next year is very positive as both inflation and exchange rates would withstand fluctuating pressures on them and get stabilised.