The Central Bank of Nigeria (CBN) says it is not interfering in the newly introduced flexible exchange regime aimed at ensuring foreign exchange stability as being speculated in some quarters.
Godwin Emefiele, the CBN Governor, stated this at a press conference in Lagos.
Emefiele said that the flexible exchange rate regime pricing was based on market forces of demand and supply.
“CBN has not been involved in interfering in the exchange rate regime. It is a flexible exchange rate regime and prices are determined based on market forces of demand and supply,” Emefiele said.
“It is important to correct that impression; it is not true that CBN is interfering in the flexible exchange rate regime.”
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