Naira Appreciation: NCRIB lauds CBN
The Nigeria Council of Registered Insurance Brokers (NCRIB) has commended the Central Bank of Nigeria (CBN) over the recent appreciation of Naira against other foreign currencies.
The President of the council, Kayode Okunoren gave the commendation during the 2017 first quarter press conference held today in Lagos.
“It is heartwarming that in the last few weeks the Naira has been appreciating against other foreign currencies, bringing a little succor to Nigerians.
To all intents, the efforts of government through the Central Bank of Nigeria in this regard are quite commendable. As a consuming nation, we all know the agonies which the weakening Nigeria posed to daily living and survival of Nigerians.
He called on the sustainability of the nascent development even as he urged to ensure promotion of production of local products for exports.
“However, the take of the NCRIB is that the firming up of the Naira should be more systemic to sustain the trend. Government must be unrelenting in promoting the production of local products that could be exported to earn foreign exchange in the international market.
Our diversification initiatives must be followed through while there should be a renewed campaign in re-orientating the minds of the citizens away from over dependence on foreign goods and services. Definitely, there is no nation that can ever develop depending wholly on foreign products.