President Bola Ahmed Tinubu has directed the Acting Governor of the Central Bank of Nigeria, Folashodun Shonubi to come up with measures that can improve the liquidity in the foreign exchange market.
The Central Bank of Nigeria (CBN) says new measures will be taken to stabilise the naira against the dollar.
Folasodun Sonubi, acting governor of the CBN, spoke with journalists after a meeting with President Bola Tinubu in Abuja on Monday.
Sonubi said Tinubu was worried about the consistent fall of the naira against the dollar, hence efforts would be made to curb the situation.
Shonubi hinted that in a few days, far reaching policies would be put in place to prevent speculators from engaging in acts detrimental to the general wellbeing of the nation’s monetary and financial market.
In some days to come, there are indications that there will be some injections into the foreign exchange market towards reversing some ongoing momentum for better stability.
More to follow…
