Naira Hits N206/$, CBN, Bankers Meet

NairaElectronic trading in the naira was halted for the second day on Thursday as the local currency was quoted at a new record low of 206.60 Naira to the dollar.

This would be amongst the issues discussed by the Central Bank of Nigeria Governor, Mr Godwin Emefiele, as he meets with the bankers’ committee in the nation’s commercial centre, Lagos.

Apart from its renewed effort to stabilise the naira, the bankers committee might consider issues around a possible devaluation of the local currency ahead the Monetary Policy Committee meeting next month, depleting foreign exchange reserves and the effect of polls shift on the financial market.

He was also expected to visit the Nigerian equities market after the meeting.