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While Umuena acknowledged the platform's limitations, such as not displaying the entirety of trades conducted, its introduction is a step toward mitigating existing market inefficiencies. Additionally, the platform aims to boost investor confidence, which is critical for the long-term health of Nigeria's economy.
Factors Behind the Naira’s Performance
Several factors have influenced the recent performance of the Naira, particularly in the parallel market. Positive sentiment stemming from Nigeria's Eurobond issue has contributed significantly, as has the notable transparency provided by the new trading platform.