- The CBN has asked Nigerians to expect the value of the Nigerian currency to improve in the coming months
- The apex bank said increasing domestic crude oil production and exports will enhance the naira’s value
- The CBN is determined to find a solution to the depreciation of the naira and recently conducted another round of forex sales.
Legit.ng journalist Dave Ibemere has over a decade of business journalism experience with in-depth knowledge of the Nigerian economy, stocks, and general market trends.
The Central Bank of Nigeria (CBN) expects the naira to appreciate in the foreign exchange markets driven by better crude oil production and exports.
The apex bank stated this in its latest report titled “Macroeconomic Outlook: Price Discovery for Economic Stabilisation”.
According to CBN, the rise in crude export will help bring more forex into the market, reduce depreciation pressures, and strengthen the naira…