Nigeria’s Vice President, Senator Kashim Shettima, has disclosed that the naira would have appreciated to N1,000 per dollar in weeks if the Central Bank of Nigeria (CBN) had not intervened in the Foreign Exchange (FX) market on Monday to ensure market stability. The Vice President made this revelation while speaking at the Progressive Governors Forum, Renewed Hope Ambassadors Strategic Summit in Abuja. New Telegraph recalls that on February 10, the CBN permitted licensed Bureau De Change (BDC) operators to access foreign exchange from the Nigerian foreign exchange market (NFEM) through authorised dealer banks, with a maximum of $150,000 weekly cap. Reacting to the development, Shettima said there are clear signs that the administration’s reforms have started yielding results as inflatio...