The Governor of the Central Bank of Nigeria (CBN) Mr. Olayemi Cardoso, said yesterday that the apex bank is not defending the Naira with the nation’s foreign reserves.
The Governor of the Central Bank of Nigeria Mr. Olayemi Cardoso, said yesterday that the apex bank is not defending the Naira with the nation’s foreign reserves.
He also said that Ways and Means is no longer an issue, particularly after the fiscal authorities securitised the outstanding. “The shift you see in our reserve is not to defend the Naira but for things like settling obligations that fell due. Mind you, that is the reason for keeping foreign reserves, in the first place.”
“For instance, food inflation is not within the purview of the CBN. Ways and Means is now less an issue.” He promised to communicate more with Nigerians and other stakeholders in order to moderate their expectations.
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
IMPI applauds CBN chief Cardoso over appreciation of the nairaThe Independent Media and Policy Initiative (IMPI) has applauded the Governor of the Central Bank of Nigeria (CBN), Mr Olayemi Cardoso over the appreciation of the value of the naira as against other foreign currencies.
Read more »
Cardoso: Foreign reserves decline has little or nothing to do with defending nairaOlayemi Cardoso, governor of the Central Bank of Nigeria (CBN) says the recovery of the naira has little or nothing to do with the drop in the country’s foreign reserves.
Read more »
Cardoso and renewed hope in the CBNThe Nation Newspaper Cardoso and renewed hope in the CBN
Read more »
More heads to roll in CBN as Cardoso continues sacking spree in apex bankA Trusted Nigerian Newspaper
Read more »
Binance: Regulating cryptocurrencies falls outside CBN duties, says CardosoNigeria's independent online newspaper
Read more »
Yemi Cardoso: Making the CBN work again, By Mariam MohammedGovernor Cardoso has to create stability in the market, and resist the temptation to limit himself to containing fluctuations in inflation.
Read more »