in

Nigeria’s exchange rate remains stable -CBN

Godwin Emefiele, CBN Governor

The Central Bank of Nigeria has denied allegations of changes in Nigeria’s exchange rate.

” There has been NO change in Nigeria’s exchange rate structure. The CBN has not floated the naira, said Isaac Okorafor, Director Corporate Commmunications on Wednesday.

” The exchange rate remains stable. Speculations and reports to the contrary are false.

A free float of the naira would cause capital flight and a “massive devaluation,” according to central bank Governor Godwin Emefiele in January while responding to calls by Atiku Abubakar to free float the naira.

“On the issue of free float, the monetary policy committee has said it is wrong – it will certainly lead to capital flight,” Emefiele said.

“It will lead to massive, massive depreciation of the valuation of our currency, and ultimately to currency crisis in Nigeria,” he added.

SHARE THIS ARTICLE

Written by Per Second News

Leave a Reply

Your email address will not be published.

Buhari Renames Abuja National Stadium to Moshood Abiola Stadium

Jonathan’s fear of Obasanjo reason he declined renaming Abuja stadium after MKO Abiola