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Nigeria’s Emefiele Disputes JPMorgan, Says Naira Value Is Right

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Nigeria’s central bank Governor Godwin Emefiele disputed JPMorgan Chase & Co’s assertion that there is a lack of liquidity in the foreign exchange market and said the naira is correctly valued.

“There is no truth in the assertion by the index team that they do not see the liquidity,” Emefiele said in a phone interview on Friday from the capital, Abuja. “There’s no reason to begin to take a look at” the naira’s value after the central bank devalued the currency in November, he said.