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LequteMan
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The Monetary Policy Committee of the Central Bank of Nigeria on Tuesday has ruled out further devaluation of the Naira, the Punch reports.
The MPC also warned against speculative trading in the currency, vowing that it would do everything within its power to protect it from further depreciation.
The Governor of the CBN, Mr. Godwin Emefiele, said while the CBN would continue to provide foreign exchange for Nigerians engaged in legitimate business, it would not allow the nation’s currency to come under speculative attacks.
He said currently, the naira was appropriately priced, adding that there was no need for anybody to worry that there would be another devaluation of the currency.
“At this time, the naira is appropriately priced and that there is no need for anybody to worry that there will be devaluation.
#Nigeria #Naira #Emefiele
The MPC also warned against speculative trading in the currency, vowing that it would do everything within its power to protect it from further depreciation.
The Governor of the CBN, Mr. Godwin Emefiele, said while the CBN would continue to provide foreign exchange for Nigerians engaged in legitimate business, it would not allow the nation’s currency to come under speculative attacks.
He said currently, the naira was appropriately priced, adding that there was no need for anybody to worry that there would be another devaluation of the currency.
“At this time, the naira is appropriately priced and that there is no need for anybody to worry that there will be devaluation.
#Nigeria #Naira #Emefiele