Economy: Coalition knocks forex saboteurs, backs CBN gov

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Naira depreciates further, as foreign reserves gain $600m in one week

Naira depreciates further, as foreign reserves gain $600m in one week

By Dapo Akinrefon

A Coalition of Civil Society Groups, CCSG, on Thursday, backed various policies introduced by governor of the Central Bank of Nigeria, CBN, Mr. Godwin Emefiele, to stabilise the naira and reposition the country’s economy.

The civil society groups also condemned the economic sabotage going on in the Forex market, stating that the economy is experiencing high inflation largely because the disparity between the official bank-exchange rates for dollar/naira is too high.

Addressing journalists at a solidarity rally in support of President Muhammadu Buhari and the CBN Governor, Emefiele, in Abuja, the coalition president and Secretary, Messrs Etuk Bassey Williams and Abubakar Ibrahim, urged Nigerians to continue to support the policies of the apex bank.

They said: “The achievements by the Government under the leadership of President Buhari cannot be possible without the support of the able lieutenants appointed to head the Central Bank of Nigeria…



Source: Vanguard Newspaper