Tinubu meets Central Bank of Nigeria Governor about Naira exchange rate

The Nigeria’s President Bola Tinubu, has met with the Acting Governor of the Central Bank of Nigeria (CBN), Folashodun Sonubi to discuss how best way could be done to stabilize the Nigerian currency and how to improve the liquidity in the market.

Penpushing reports that the Central Bank of Nigeria (CBN) Governor while briefing journalists at the State House Abuja, after the meeting blamed speculators for the current exchange rate, stressing that the President is very concerned about the situation.

The Central Bank of Nigeria (CBN) boss explained that he briefed President Tinubu on some of the plans and strategies to address the challenge, which he said he would not disclose to the journalists as at the time of the interview

“We do not believe that the changes going on in the parallel market are driven by pure economic demand and supply but are topped by speculative demand from people. Some of the plans and strategies, which I’m not at liberty to share with you, means sooner rather than later, the speculators should be careful because we believe the things we’re doing when they come to fruition may result in significant losses to them’, he said

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