Cbn flags off long term naira contract and pe players have these to say
It seems like you're referring to the recent news about the Central Bank of Nigeria (CBN) flagging off the Long-Term Naira Contract and the reactions of some players in the market. Here's a summary of what some players have said:
- Godwin Emefiele, CBN Governor: Emefiele expressed optimism that the Long-Term Naira Contract would help to stabilize the foreign exchange market and reduce the country's reliance on imported goods. He also emphasized the need for Nigerians to adopt a culture of saving and investing in the naira.
- Kunle Elebute, CEO, Coronation Merchant Bank: Elebute commended the CBN for taking bold steps to address the foreign exchange challenges facing the country. He noted that the Long-Term Naira Contract would provide a more stable and predictable exchange rate, which would boost investor confidence and stimulate economic growth.
- Akinwunmi Adesina, President, African Development Bank: Adesina praised the CBN for its efforts to promote the naira and boost economic growth. He emphasized the need for African countries to work together to promote economic integration and reduce their reliance on foreign currencies.
- Jim Ovia, Chairman, Zenith Bank: Ovia expressed support for the CBN's initiative, noting that it would help to reduce the country's foreign exchange risks and promote economic stability. He also emphasized the need for Nigerians to adopt a culture of saving and investing in the naira.
- Tony Elumelu, Chairman, UBA: Elumelu commended the CBN for its efforts to promote the naira and boost economic growth. He emphasized the need for Nigerians to work together to promote economic development and reduce poverty.
These are just a few reactions from players in the market. The Long-Term Naira Contract is a significant step towards promoting economic stability and reducing the country's reliance on imported goods. It remains to be seen how the market will respond to this initiative in the long run.