Acting central bank governor Folashodun Shonubi's meeting with Tinubu comes after the bank on Friday revealed a $19 billion commitment in derivatives in 2022, nearly the size of the country's reserves.
The central bank had been propping up the naira and introduced several controls to keep the currency artificially strong under suspended governor Godwin Emefiele. "We are doing things which will significantly impact the market in a few days time," Shonubi told reporters in Abuja. The naira has hit a succession of record lows on the black market due to dollar shortages on the official market where the currency has also weakened since the devaluation.
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