Central Bank of Nigeria governor, Godwin Emefiele, has ruled out any devaluation of the Nigerian currency the naira in the near future.
Emefiele said that the Federal Government is focusing on improving and deepening the foreign exchange market by improving supply of foreign exchange into the market.
on Friday ruled out the possibility of the Federal Government further devaluing or adjusting the Naira.
He spoke with State House correspondents at the Presidential Villa, Abuja.
“He said, “There has been a lot of talk on whether or not we want to depreciate our currency again. The truth is that we had adjusted the currency by depreciating it from N155 to N197 in February this year. There is no intention to depreciate or adjust the currency any longer.
“The President has been very clear on this. The Vice President has been very clear on this and let me further reiterate our position at the Central Bank of Nigeria that we are not considering any further depreciation of the currency.
