How Finance Minister, CBN governor, EFCC chairman Plan to Save the Naira from Collapse

Nigeria’s Finance Minister and Coordinating Minister for the Economy, Wale Edun, has held a crucial meeting with the Central Bank of Nigeria (CBN) Governor, Olayemi Cardoso, and the Economic and Financial Crimes Commission (EFCC) Chairman, Ola Olukoyede, to devise a strategy to rescue the struggling Naira.

The Naira has been under severe pressure in recent months, as the gap between the official and parallel market exchange rates widened, fueling inflation and eroding the purchasing power of Nigerians.

According to a statement from the Federal Ministry of Finance, the meeting, which took place at the Finance Headquarters, focused on improving the efficiency of the financial system and stabilising the Naira.

The statement said the meeting also reaffirmed the government’s commitment to aligning monetary and fiscal policies, as well as upholding the rule of law.

The EFCC Chairman expressed his support for the government’s initiatives and vowed to enhance the integrity of financial regulations. He also disclosed that the EFCC had raided some illegal foreign exchange operators this week, as part of the efforts to curb the activities of currency speculators and hoarders.