Finance

Central Bank: We Won’t Devalue Naira

Published

8 years ago

January 12, 2017

Samed Olukoya

Central Bank: We Won’t Devalue Naira

The Central Bank of Nigeria on Thursday reaffirmed its commitment to the foreign exchange market.

According to the Governor of the Central Bank, Godwin Emefiele, the institution does not intend to devalue the local currency, especially with the present surge in oil prices.

However, the apex bank will support present levels by boosting forex liquidity on the official market.

The president of Bureau De Change Operators, Aminu Gwadabe, said the Central Bank told the Bureau De Change Operators it was looking to bolster liquidity at the segment so as to eliminate the usual spread to the parallel market.

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Samed Olukoya

Is the CEO and Founder of Investors King Limited. He is a seasoned foreign exchange research analyst and a published author on Yahoo Finance, Business Insider, Nasdaq, Entrepreneur.com, Investorplace, and other prominent platforms. With over two decades of experience in global financial markets, Olukoya is well-recognized in the industry.

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Central Bank: We Won’t Devalue Naira

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