L
LequteMan
Guest
The governor of the Central Bank of Nigeria, (CBN ) Godwin Emefiele is bullish about the naria.
According to him, the naira is now stable due to improvements in the country's economy.
“The fundamentals we are seeing show that there is a lot of stability in the foreign exchange market, and having come down from high level to the level we are now, and the currency is just fluctuating between N359/N365 to dollar.
“We think it is good level compared to where we are coming from. We think it is important to note that as reserves get stronger, as economic fundamentals get stronger, there is no doubt that the naira will get stronger and we will see more appreciation in the currency,” Mr. Emefiele said.
He said this at the annual general meeting of the International Monetary Fund, IMF and the World Bank in Washington DC.
According to him, the naira is now stable due to improvements in the country's economy.
“The fundamentals we are seeing show that there is a lot of stability in the foreign exchange market, and having come down from high level to the level we are now, and the currency is just fluctuating between N359/N365 to dollar.
“We think it is good level compared to where we are coming from. We think it is important to note that as reserves get stronger, as economic fundamentals get stronger, there is no doubt that the naira will get stronger and we will see more appreciation in the currency,” Mr. Emefiele said.
He said this at the annual general meeting of the International Monetary Fund, IMF and the World Bank in Washington DC.
