President Bola Tinubu has directed the Central Bank of Nigeria, CBN to implement strict monetary policies which will help “stabilize the Naira” and further improve the nation’s economy.

Briefing State House Correspondents yesterday, Acting Central Bank Governor, Folashodun Shonubi who spoke after receiving directives from President Tinubu to urgently intervene to address the Foreign exchange hike against the naira, did not reveal the specific measures the CBN will take.

He however stressed that currency speculators will lose significant amounts of funds when the measures are in place to improve liquidity in the forex market.