Nigeria Central Bank Hits Out at ‘Unpatriotic’ Policy Critics
- Managing naira exchange rate benefits the poor, CBN says
- Bank won’t abandon measures to defend naira, reserves
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Nigeria’s central bank lashed out at critics of its efforts to prop up the naira and said that weakening the currency would only harm poor people.
“Intelligence reports at the disposal of the bank reveal the involvement of some unpatriotic elements funding the push to have the Central Bank of Nigeria and the federal government reverse its foreign-exchange policy,” Isaac Okorafor, a spokesman, said in a statement on the Abuja-based central bank’s website. “Self-centered individuals, who have failed to assail our patriotic position, have resorted to the sponsorship of serial propaganda to misinform and mislead the public on the objectives of our policies.”