By a stroke of genius, the President had ordered the CBN be in charge of receipts of oil revenues, a departure from decade-long misappropriation of crude oil sales. It therefore enhances CBN's ability to stabilize the currency. The insinuation that CBN borrows to sell to banks and BDCs should be disregarded.

2. Clearing of $7billion backlog has done the economy so much good. Investors no longer have the fear of their funds being trapped.

3. Oil production is on a steady increase. Although, a component volume of it had been sold in the future, however, the significant increase in production is offsetting the shortfalls. Moreover, oil price is up.

4. The market is gaining back investors' confidence. Following MPC meeting in January, investors reacted positively, total foreign portforlio recorded $2.3billion in febuary, purchases of naira assets stood at $1billion, oversea remitances went up greatly, FG bonds was oversubscribed, all these helped create more liquidity and increases market supply.
It is also noteworthy to appreciate CBN's new guildelines, these bold moves have helped sanitize the financial system. CBN henceforth is closely monitoring operations of financial institutions and BDCs. CBN and the security agencies are following every transactions, the eagle eyes are following the money. Hopefully, it gets even better.

PS; foreign reserves has grown to $34billion as at feburary.

Re: Why Naira Will Continue To Appreciate by helinues: 8:18am
The manipulators have been sent out. Naira would gain more strength too, the exchanged rate even outside the country is reducing.

Good news for sane and patriotic Nigerians, bad news for the enemies of progress and development of Nigeria

APC said ₦216 per Dollar was too much. Therefore, no APC government is good unless Naira goes below 216 per Dollar in the regime.

Praising the government when Naira is 216 per Dollar means praising stagnancy.

Praising the government when Naira is above 216 per Dollar means praising backwardness.

Call me anything you like.

Naira has been very Elastic to the policies so far truth be told, but that cannot be said for the inflation on goods & services.
There should be a law enforcing regulatory body to make sure inflation respond to the appreciation of Naira.

VawulentMan:
Naira has been very Elastic to the policies so far truth be told, but that cannot be said for the inflation on goods & services.
There should be a law enforcing regulatory body to make sure inflation respond to the appreciation of Naira.

Na so.

Price control bodies are necessary now.