The Central Bank of Nigeria (CBN) said
it is committed to sustaining the bank’s achievements through the use of
appropriate monetary policy tools to ensure price and financial system
stability.
Speaking on Friday in Abuja, in her
maiden press briefing as the Acting Governor of the bank, Dr Alade said
the bank has the capacity to meet the demands of all foreign exchange
users, adding that the CBN “has no immediate plans to devalue the
Naira.”
Alade assured stakeholders that the Central Bank of Nigeria will continue to intervene in the interbank foreign exchange market to ensure the stability of the exchange rate of the naira and preserve the value of the domestic currency.
Alade was appointed as CBN acting governor last Thursday by President Goodluck Jonathan after suspending Sanusi Lamido Sanusi from office.
Alade said: “I wish to use this opportunity to reassure you that the management of the CBN remains committed to monetary and price stability and the smooth functioning of the foreign exchange market. With the current level of reserves at 7 months of imports cover, as at end-December 2013, the bank’s ability to intervene in the foreign exchange market is not in doubt.
“It is important to note that the bank in its 55 years of existence has continuously focused on its core mandate and remains committed to achieving monetary and price stability, promoting sound financial system and defending the international value of our local currency.”
Alade assured stakeholders that the Central Bank of Nigeria will continue to intervene in the interbank foreign exchange market to ensure the stability of the exchange rate of the naira and preserve the value of the domestic currency.
Alade was appointed as CBN acting governor last Thursday by President Goodluck Jonathan after suspending Sanusi Lamido Sanusi from office.
Alade said: “I wish to use this opportunity to reassure you that the management of the CBN remains committed to monetary and price stability and the smooth functioning of the foreign exchange market. With the current level of reserves at 7 months of imports cover, as at end-December 2013, the bank’s ability to intervene in the foreign exchange market is not in doubt.
“It is important to note that the bank in its 55 years of existence has continuously focused on its core mandate and remains committed to achieving monetary and price stability, promoting sound financial system and defending the international value of our local currency.”
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