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abujagirl
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A letter written by Godwin Emefiele, Governor of the Central Bank of Nigeria to President Muhammadu Buhari has reportedly been leaked to Reuters news agency.
The letter briefs Buhari on the foreign exchange plan announced on Wednesday, says it could take three to four weeks to clear a $4 billion backlog of foreign exchange demand.
In the letter, Emiefiele stated that the central bank hopes the Naira will eventually trade at around 250 per dollar, a level the president has "approved".
"I must assure Your Excellency that we are indeed reasonably optimistic that at some point the rate will settle around 250 naira," Emefiele says in the letter.
The letter briefs Buhari on the foreign exchange plan announced on Wednesday, says it could take three to four weeks to clear a $4 billion backlog of foreign exchange demand.
In the letter, Emiefiele stated that the central bank hopes the Naira will eventually trade at around 250 per dollar, a level the president has "approved".
"I must assure Your Excellency that we are indeed reasonably optimistic that at some point the rate will settle around 250 naira," Emefiele says in the letter.