The Central Bank of Nigeria, CBN, on Monday said it is poised to reverse the slide of the naira as it has lined up intervention mrssures that will be unveiled in the next few days.
The acting governor of the nation’s apex bank, Folashodun Shonubi, stated this while speaking with State House correspondents after meeting behind closed doors with President Bola Tinubu at the presidential villa, Abuja.
He warned that government will come hard on those involved in underhand undertaking in the foreign exchange market including the parallel market.
The CBN boss said President Tinubu is concerned about the develepment in the market and its effect on the people, saying he discussed what could be done to stabilze the naira with the president.
He noted with dismay that the changes going on in the parallel market are not dictated by demands but speculative attitude.
He warned that the specilators will suffer huge losses when government activates its strategies.
