The Central Bank of Nigeria (CBN) has announced its intention to take action against speculators who are contributing to the slide of the naira’s value. Acting CBN Governor Folashodun Shonubi revealed that the bank is preparing intervention measures to address the issue. After a meeting with President Bola Tinubu, Shonubi emphasized that the CBN is focused on stabilizing the naira and improving liquidity in the market. He expressed concern that speculative activity, rather than genuine economic demand, is driving changes in the parallel market. The CBN aims to implement strategies that may lead to significant losses for speculators, while ensuring a more efficient and reasonable economic environment for the average person.
CBN MOVES TO CRACKDOWN SPECULATORS OVER NAIRA
