Buhari excited over forex stability – Emefiele

by Azeez Adeniyi

Governor of the Central Bank of Nigeria, Godwin Emefiele on Thursday said the current stability in the foreign exchange market excited President Muhammadu Buhari.

Emefiele told this to State House correspondents after briefing the President of the activities of the apex bank in his office at the Presidential Villa, Abuja.

He told the reporters that the parallel market is currently stabilising at between N380 and N385 against $1.

[Read Also: NIGERIA WILL BE OUT OF RECESSION BY THIRD QUARTER – EMEFIELE]

He said, “Basically as it is expected, what we normally do is from time to time to brief the President about activities of the Central Bank of Nigeria particularly at this time as it relates to the efforts that the Central Bank is making to stabilise the forex market

“We briefed him regarding the activities so far and he was very delighted to hear that the market is stabilising at the level that it is right now and I am saying the parallel market currently stabilises at between N380 and N385.”

Emefiele also said crude oil prices  had helped to boost the nation’s revenue.

“Given what we have right now the fact that the revenues are looking good, the state of the economy is good and I believe that we are going to pull out of the problem in due course,” he assured Nigerians.

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