CBN Under attack over Forex Policy



The Central Bank of Nigeria, CBN, on Thursday raised alarm that it is currently under attacks by “some unpatriotic elements” pressurizing it for a reversal of the government’s foreign exchange policy.

A statement by CBN Acting Director, Corporate Communications, Mr Isaac Okorafor, said intelligence reports at its disposal reveal that some persons were bent on rubbishing the establishment.

“Despite our positive efforts, some persons and groups have chosen to play to the gallery by focusing on negativity that does the country no good.

“Nevertheless, in line with our mandate and working with the fiscal authorities, we will continue to ensure monetary and price stability as well as maintain external reserves to safeguard the international value of the Naira.

“While leaving our doors open for genuine partnership with all our stakeholders, we will only take economic decisions that will impact positively on the lives of all Nigerians.

“We therefore urge all concerned to be more patriotic and contribute to the soundness of the Nigerian economy; rather than engage in acts capable of undermining the efforts being made at moving the country out of the current economic situation”, it read.

Meanwhile, Nigeria’s foreign reserve has risen to $28.9 billion.

This was made known on Tuesday by CBN Governor, Godwin Emefiele, at the end of the bi-monthly Monetary Policy Committee (MPC) meeting in Abuja.

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