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Naira Will Appreciate After General Elections – Emefiele

Nigeria – According to the governor of the Central Bank of Nigeria, Godwin Emefiele, the pressures on the country’s currency will abate after the general elections in March and April.

Naira had taken a huge blow following its devaluation last year which was caused by the global crash in prices of crude oil.

However Emefiele, speaking after the CBN’s MPC meeting expressed optimism that after the elections, confidence in the naira would improve and the economy would move in an upward direction.

The governor said some of the recent measures taken by the CBN would help to reduce the pressures on the nation’s currency.

Some of the measures, according to him, are the improvement in supply of foreign exchange, deepening of the market and cutting what he described as ineffective demand.

#Nigeria #Naira #Dollar #Emefiele #CBN

About TransformationWatch

TransformationWatch is an online news site founded by Henry Omoregie It is focused on keeping tabs on the Transformation Agenda set out by the Nigerian leadership in the Local, State and Federal Governments. My mission is to observe, analyze and report milestones or slowdowns in promised service delivery in all the facets of governance in Nigeria (2011 and beyond). Readership is open to all Nigerians and friends of Nigeria alike, regardless of Tribe, Religion or Political divide. We are all in this together


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