Governor, Central Bank of Nigeria (CBN), Mr Godwin Emefiele, on Thursday, revealed that the apex bank has marshalled a cocktail of programmes and policies, which have helped keep the local currency stable. In his virtual goodwill message at the opening of the 32nd Seminar for Finance Correspondents and Business Editors in Akure, Emefiele, who was represented by the Deputy Governor, Corporate Services of the CBN, Mr Lamtek Adamu, noted that the apex bank’s demand management policy was one of the rafts that made the naira remain largely stable at the import and export (I & E) window, particularly since the discontinuation of FX allocation to Bureau De Change operators along with the convergence between the CBN and NAFEX rates. “Banks are now able to meet the demands of their customers seeking forex for SMEs, school fees, medical and PTAs. “Our current account deficit has narrowed significantly due to a surplus position in the goods account. The surplus position in the goods account is occasioned by a reduction in imports, increase in crude oil and gas export receipts, and improvement in remittances. Remittance inflows have been supported by our ‘Naira for Dollar’ scheme, and we have seen a surge in remittance inflows.

Sun