Gbadamosi has nothing to do with naira appreciation – CBN

Chidi Samuel || Nigerians have been urged to resist any attempt by vested interests to subvert the ongoing efforts of the Federal government and the Central Bank of Nigeria to halt the depreciation of the Naira and save Nigerians from further suffering.

The WhatsApp messages linking the detention of one Gbadamosi from Lagos state to the current appreciation of the Naira is absolutely false.

The current appreciation of the Naira, according to CBN, is as a result of painstaking intelligence and monitoring of the markets and subsequent tactical intervention based on improved foreign reserves, by providing for invisible such as school fees, PTA, and medical expenses.

It will be recalled that the CBN late last month made two crucial interventions in the Country’s forex regime that forced down the exchange rate of the United dollar against the Naira from an all-time high of N550 to the dollar to about N450 to the greenback currently.

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