Naira stable at official forex market

Naira recorded no movement against the U.S. dollar at the official market on Friday, a day after top officials of two government agencies met to resolve the foreign exchange crisis in the country.

Messrs Bawa and Jere held a “strategy” meeting on the issue behind closed doors at the headquarters of NIS in Abuja on Thursday, a tweet by the EFCC said. Forex speculators have been blamed for contributing to the free fall in the value of the naira, which prompted the anti-graft agency where forex is officially traded, naira closed at N428.12 to a dollar at the close of business on Friday, the same rate it exchanged in the previous session on Thursday.

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Repatriate dollar earnings to reduce pressure on naira, CBN tells private sectorThe Central Bank of Nigeria (CBN) has called for the repatriation of foreign exchange (FX) earnings through official channels to ease... And that will help the matter, significantly.
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Repatriate dollar earnings to reduce pressure on naira, CBN tells private sector | TheCableThe Central Bank of Nigeria (CBN) has called for the repatriation of foreign exchange (FX) earnings through official channels to ease the pressure on the naira. Repatriate at what exchange rate?
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