The Central Bank of Nigeria has assured investors in the
capital market that the devaluation of the Naira will not affect the bourse.
Giving the assurance in an interview with newsmen in Abuja,
CBN Deputy Governor, in charge of Financial System stability, Dr Joseph
Nnanna, debunked the insinuations making rounds in some quarters that the
devaluation of the Naira may crash the capital market, promising that there are
strong fiscal measures put in place by the apex bank to ensure the smooth
running of the capital market and other financial institutions.
Dr. Nnanna who added that since shares are quoted in
Naira, insisted that instead there will be a bullish markets for the new
instruments under the new higher rate, post the Naira depreciation and
inflation rate upsurge.
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