Experts Praise CBN’s Effort at Defending Naira

Godwin Emefiele - CBN

Analysts have lauded efforts by the Central Bank of Nigeria, led by Governor Godwin Emefiele, at stabilizing the nation’s economy and defending the naira. In separate interviews with Voice of Nigeria, the analysts lauded the Apex Bank for its commitments toward fulfilling its mandate of maintaining Nigeria’s external reserves to safeguard the international value of the legal currency and promote an efficient financial system in Nigeria as well as enhance growth.

According to Emefiele: “As a result of our demand management policy, the naira has remained largely stable at the I & E window, particularly since the discontinuation of FX allocation to Bureau De Change operators along with the convergence between the CBN and NAFEX rates”.

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