The Central Bank of Nigeria (CBN) says it will introduce new measures to stabilise the naira against the dollar.
The Acting governor of the CBN Folasodun Sonubi, made this known to journalists after a meeting with President Bola Tinubu in Abuja on Monday.
He said Tinubu was worried about the downward slide of the naira against the dollar, adding that plans are on to reverse the trend.
The CBN governor blamed currency speculators for being responsible for the naira situation and said that the APEX bank would roll out interventions that would make them suffer losses.
Recently, the CBN had said that diversion of diaspora remittances to the parallel market was the reason for the consistent fall of the naira.
At the moment the Naira continues to tumble to all time low of N950 to $1 at the parallel market making it difficult to pay school fees and engage in order important transactions.
Diversion of diaspora remittances to parallel market weakens naira, says CBN
