“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
Tagged with: CBN
The Nigerian stock market witnessed a powerful rebound on Tuesday, as investors welcomed the news headlines of the suspension of the CBN Governor, Mr Godwin Emefiele, by President Bola Tinubu. President Bola Ahmed Tinubu suspended Mr Godwin Emefiele, CFR, last Friday explaining that it was a result of the ongoing investigation of his office and the planned reforms in the financial sector of the economy. It seems that industry sentiment was boosted by the expectation that the suspension would pave ...
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