President Bola Tinubu has met with with Folashodun Sonubi, the acting governor of the central bank, as part of concerns over the escalating exchange rate between the naira and the dollar,
During their meeting, the two officials deliberated on potential measures to stabilize the Nigerian currency and enhance liquidity within the market.
Following the session, Mr. Shonubi addressed journalists at the State House in Abuja, attributing the current exchange rate challenges to speculators.
He emphasized that the president is deeply troubled by the prevailing situation.
“We hold the belief that the fluctuations observed in the unofficial market are not solely driven by genuine economic supply and demand dynamics, but rather are predominantly influenced by speculative activities,” he remarked.
