The Nation Newspaper CBN not defending naira with Foreign Reserves, says Cardoso
is not defending the naira with foreign reserves, its Governor Olayemi Cardoso, said yesterday at the ongoing Spring Meetings of the International Monetary Fund /World Bank in Washington DC.
Cardoso, who acknowledged the past reliance on Bureau De Change to meet forex needs for essential purposes, like education and travel, said the bank has shifted towards a market-driven approach. “The issue of Ways and Means is no longer an issue,” Cardoso declared, indicating a key point of contention has been addressed.
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