CBN Reassures Investors Of Nigeria's Strong Economic Fundamentals

BEVERLY HILLS, September 14, (THEWILL) – The Central Bank of Nigeria (CBN) has again assured investors and businesses of the nation's strong economic fundamentals following the

The CBN's reassurance followed recent claims and counter claims over the nation's foreign exchange liquidity profile, just as J.P. Morgan announced the delisting of Nigeria's bonds from its emerging markets bond index.

Mr. Godwin Emefiele, CBN Governor, said the US banks concerns were baseless and faulted the delisting of the nation from the index.

According to him, the nation's ability to operate within $350m and $400m daily range of liquidity was not a challenge.

He said that contrary to other opinions the CBN had addressed the issue of transparency while meeting the dollar demand of the economy.

Overall, most stakeholders commended CBN for providing a soft landing for the Nigerian economy, in the period under review.

They said the CBN's proactive response on the concerns raised by J.P. Morgan on foreign exchange liquidity and transparency assisted tremendously in stabilising the economy.