May 24, 2024

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Nigerian Central Bank Governor Denies Using Forex Reserves to Defend Local Currency

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Nigerian Central Bank Governor Denies Using Forex Reserves to Defend Local Currency
Nigerian Central Bank Governor Denies Using Forex Reserves to Defend Local CurrencyThe Nigerian central bank governor has refuted claims that the bank is using the country’s foreign exchange reserves to shore up the naira. The governor attributes the decline in reserves to debt repayments and other payments, which are made because they help to maintain Nigeria’s credibility. Maintaining Nigeria’s Credibility Yemi Cardoso, governor of the Central […]