(BREAKING) Forex: CBN don make move to stop naira free fall
Di Central Bank of Nigeria. CBN yarn say dem don ready to take new measures to stabilise naira against dollar.
Acting Governor of di CBN, Folasodun Sonubi, reveal dis tori to State House Correspondents after hin brief President Bola Tinubu on wetin di bank dey do to halt di slide on Monday for di State House.
He yarn say President Tinubu express hin concern about di impact of recent developments for di foreign exchange market, particularly on ordinary citizens.
Also, Sonubi yarn say hin assured di President say di CBN dey active with di work wey dem dey do to improve liquidity and stability for di market, and also to address issues for di parallel market.
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Sonubi stress say di fluctuations for di parallel market no be only because of economic factors, but also by speculative demand.
Di apex bank governor tok say even as hin no go fit disclose specific details, he warn speculators say di CBN upcoming initiatives fit potentially lead to significant loss for them.
Also, hin tok say di primary purpose of hin presence for di presidential villa na to reassure di President say di CBN dey take decisive action to address di concerns wey dem raise.
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