The presidency is optimistic about better days for the naira and is asking currency speculators to dump their cache of dollars.
Nigeria’s naira currency has recently slid downwards against major currencies like the dollar, going for $1 to N1,500 in the parallel market.
But the Central Bank of Nigeria (CBN) recently cleared the country’s FX backlog inherited from the previous administration, a move presidential aide Bayo Onanuga said will lead to the appreciation of the naira.
Onanuga’s remark is one of the latest comments after the CBN said it cleared $7 billion in foreign exchange backlog.
According to the CBN’s Acting Director of Corporate Communications Hakama Sidi Ali, the apex bank employed an independent auditing firm Deloitte Consulting to assess the transactions to ensure only legal claims were honoured.
0
0
