CBN spent $8bn on Naira defence against dollar at FX market – Rewane
[NigerianEye - Nigeria] - 23/02/2025
The Chief Executive Officer of Financial Derivatives, Bismark Rewane, has revealed that the Nigerian government, through the Central Bank of Nigeria, has spent almost $8 billion defending the naira at the foreign exchange market in the last months.Rewane, a renowned economist, disclosed this at the weekend in an interview with Channels Television.He was reacting to the decision by the Monetary Policy Committee to retain the country’s interest rate at 27.50 percent at the same time, maintaining other MPR parameters.Explaining the reason the Naira has appreciated to N1,505 and N1,507 across (…)
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