President Bola Ahmed Tinubu has issued a clear directive to the Acting Governor of the Central Bank of Nigeria, Folashodun Shonubi, to devise strategies aimed at bolstering liquidity within the foreign exchange market and streamlining the activities of speculators.
Following a pivotal meeting with the President, the acting CBN governor conveyed that President Tinubu expressed concerns about the prevailing trends in both the FOREX and parallel markets. As a result, he instructed that every effort must be made to ensure a more conducive financial environment for the average Nigerian citizen.
Shonubi indicated that in the coming days, comprehensive policies would be unveiled to curtail speculative activities that could potentially harm the overall welfare of the nation’s monetary and financial landscape.
#CBN #FOREX
In the meantime, it is anticipated that there will be interventions in the foreign exchange market aimed at reversing certain ongoing trends and fostering improved stability in the near future.