Wed. Oct 28th, 2020

The Naira on Monday closed at N362.94 to a dollar at the investors (I&E) window.

The Market turnover at the window stood at 83.77 million dollars.

At the official Central Bank of Nigeria (CBN) window, a dollar was sold at N306.95.

The News Agency of Nigeria (NAN) reports that the future of the Naira had been the focus of debate with economists postulating on its possible devaluation in 2020.

However, the CBN in it’s first Monetary Policy Committee (MPC) in 2020 said that Naira devaluation was the way to go.

CBN Governor, Mr Godwin Emefiele, noted that the bank has sufficient foreign reserve to defend the Naira without choosing the option of devaluation.

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