The Central Bank of Nigeria (CBN) said yesterday that the currency’s appreciation against others was the result of its market monitoring and intervention.
Its spokesman Isaac Okorafor refuted the claim that illegal sale of foreign currencies at ridiculous rates was responsible for the change in Forex policy.
Okorafor, who spoke in Sokoto, also explained that the appreciation of the Naira was in no way connected to the allegations of illegal sale of foreign currencies.