Central Bank of Nigeria (CBN) governor, Godwin Emefiele, has promised that the Naira will stabilize in the year 2016.
as reported by Global Village Extra, even though he gave this assurance the strategy to achieve it wasn't stated “Don’t ask me because I will not disclose our strategy for now,’’ he said.
He further explained that, “CBN will soon start a nationwide campaign to sensitize Nigerians to items excluded from importation.
“This is part of efforts to save more foreign exchange and stabilize the nation’s currency. The solution to free-fall of the naira is by controlling the demand for foreign currencies such as the dollar.
“If we are able to reduce importation, the demand for the dollar will fall automatically.’’
The CBN governor however advised that more people, especially public servants should engage more in farming. “Public servants should also engage in farming because the only business public servants are allowed to engage in is farming. And you don’t need power to farm tomato, vegetables or fish.’’
He lamented that the CBN doesn’t have enough dollars to sustain the bureau de change, and blamed it on some businessmen who engaged in activities that put pressure on the dollar, and other currencies.
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