Nigeria, Sept. 22 -- The Central Bank of Nigeria (CBN) Governor, Olayemi Cardoso, has said that losses arising from Nigeria's multiple foreign exchange (FX) windows amounted to about three per cent of the country's gross domestic product (GDP).

Mr Cardoso disclosed this while responding to questions after the 307th meeting of the Monetary Policy Committee (MPC) on Tuesday in Abuja.

PREMIUM TIMES previously reported that CBN moved to reset the Monetary Policy Rate (MPR) and recalibrate the policy corridor, cutting the benchmark interest rate to 23 per cent, from 26.5 per cent.

The governor stated that the decision is an important operational realignment aimed at strengthening monetary policy transmission.

CBN said its reforms have impr...