• Tuesday, July 23, 2024
businessday logo

BusinessDay

Cardoso outlines immediate measures to stabilise naira

Naira’s worst days are over— Cardoso

Olayemi Cardoso, acting governor of the Central Bank of Nigeria (CBN) has outlined immediate or short-term measures towards addressing the problem of naira free fall.

Responding to a series of questions asked by members of the Senate during the screening of the CBN governor and deputy governor nominees, he said, first of all, the CBN will have to clear the foreign exchange (FX) backlog irrespective of the amount.

Read also Senate emerges from close door session to screen CBN governor, others

If confirmed, he said the team will employ operational and system-related measures to address the foreign exchange issues.