We have made more progress in these areas than is even realised or acknowledged.The Exchange Control Department has gone from being the largest operating units in the Bank to one of the smallest. It is transforming more and more to data gathering and intelligence operation.
Today, firms in the private sector that have a positive nexus to foreign exchange earnings activities or those that promote strategic national development priorities enjoy direct access to capital raising in foreign currency. They operate within limits that would rarely constrain the small and medium-sized operations that should be engines of growth in any economy.