“I am happy to say that foreign reserve today has inched to $28.9 billion. It is exciting to see this happen.
But is there a need to float the Naira? It is important to note that we have to manage the reserve.
That means from time to time we will intervene in the market to make sure the exchange rate does not go beyond our expectations and those interventions will be to moderate the rates as necessary”
– Mr. Godwin Emefiele, CBN Governor