Acting Director, Corporate Communications of the Central Bank of Nigeria (CBN), Mr. Isaac Okoroafor, says the apex bank resisted suggestions to float the Naira when the country was battling with economic recession.
Okoroafor spoke at the Capital Chapter Congress/Dinner of the Nigerian Institute of Public Relations (NIPR), FCT chapter, on Wednesday, in Abuja.
Delivering a lecture titled, “Managing Public Confidence in a Period of Economic Challenge.
-The Role of Public Relations’’, the CBN spokesman said the bank was vindicated afterwards for rejecting the suggestion.
A floating exchange rate is a regime where the currency price is set by the forex market based on supply and demand compared with other currencies.
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