No Further Naira Devaluation - CBN To Sanusi

But CBN deputy governor of corporate services directorate, Adebayo Adelabu, addressed journalists yesterday in Lagos, at the sidelines of the Investiture of the Chartered Institute of Bankers of Nigeria (CIBN), responded to Sanusi’s comment saying that “they are all aware of the CBN’s official position on this, that there will not be any further devaluation of the naira, and this has been communicated.”

“We have made the official position known to the public.
There could be comments from various quarters of the economy but we have made our official position known,” he said.

The CBN’s position was also supported by the Chartered Institute of Bankers of Nigeria (CIBN). The CIBN president, Otunba Adebola Osibogun, said: “The CBN itself is a member of the institute; off course they consult with us, we work together, even though they take the decision, so whatever the CBN decides, the institute always support.”

However, the Lagos Chamber of Commerce and Industry supported Sanusi’s position, saying there is need to adjust the exchange rate in line with current realities.

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