₦airaland Forum

The Central Bank of Nigeria (CBN) spent $380 million in two days to prop up its ailing naira, after it conducting special forex interventions to shore up the local currency. Latest data on the CBN website on Tuesday showed that reserves fell to $32.66 billion by February 16, down 1.2 percent from $33.04 billion by Feb. 13.

Click here to read more: http://businessdayonline.com/2015/02/fg-spends-380m-to-defend-naira-over-two-days/#.VONeNPnF-xU

nice move.

Oh my God! For how long can they continue to keep the naira on a 'life-support'(sic) with more dollar unabated?
The future is bleak!

Instead of providing tractors and factories.dumbassesss

madridguy:
nice move.

What is nice about this ? Can't u see this is a cosmetic approach that would fade at the sight of heat

madridguy:
nice move.

Wrong move.

I'm not surprised. They want to pack out our bank before they pack out of Aso-rock in March

LRNZH:
Emefiele is not in the league of Soludo and Sanusi.
The former CBN Gov's would have devised ingenious ways of withstanding the oil price shock.

Emefiele's incompetence coupled with GEJ's corruption and non performance means the Naira is an orphaned currency.

May 29th is too far to get rid of this nonsense of a govt.

Let's not blame Emefiele, it's not his fault.

The blame should be at the doorsteps of the political elites who refused to save during the time of plenty.

If not for politics, Emefiele would've stop trying to support the naira.

This election should just come and go so that we can go on with our lives