What Emefiele told Buhari at Thursday’s meeting 

Godwin Emefiele, Governor of the Central Bank of Nigeria was on the hot seat yesterday, Thursday April 4 when he was invited by President Muhammadu Buhari to brief him on the latest situation in the foreign exchange market.

Emefiele, it was gathered briefed the President on the apex bank’s effort at stabilizing the Naira. “We briefed him regarding the activities so far and he was delighted to hear that the market is stabilising at the level that it is right now. I am saying the parallel market which currently stabilises at between N380 and N385,” Emefiele told journalists in Abuja.

According to the CBN boss, the parallel market is currently stabilising at between N380 and N385 to a dollar. “Basically as it is expected what we normally do is from time to time to brief the President about activities about the Central Bank of Nigeria.

ALSO SEE: Naira remains stable at parallel market

Emefiele said the increase in crude oil production and export were the major factors responsible for the stability in the forex market.

He added that the crude oil prices which has been oscillating between 50 and 56 dollars per barrel also helped in boosting the nation’s revenue position.

He said: “Given what we have right now the fact that the revenues are looking good, the state of the economy is good and I believe that we are going to pull out of the problem in due course.’’

The CBN boss reassured that the apex bank would continue to make the foreign exchange available to those in need to enable them to import or to carry out eligible transactions