Nigeria Acts to Stabilize Currency with Forex Auction
The Central Bank of Nigeria (CBN) will reintroduce a foreign exchange auction system as part of efforts to ease pressure on the local currency. The CBN has called on authorized…
Nigerian Central Bank Governor Denies Using Forex Reserves to Defend Local Currency
The Nigerian central bank governor has refuted claims that the bank is using the country’s foreign exchange reserves to shore up the naira. The governor attributes the decline in reserves…