Nigeria, June 8 -- The official market's naira has displayed fresh resilience, The News Chronicle reports, rising from almost N1,845 per £1, to levels seen in early June. Central Bank of Nigeria statistics showed the local currency ended June 5 at N1,823 per pound, therefore showing progress in foreign currency market stability.



Market experts ascribe the performance to the CBN's liquidity-control policies, a strict monetary policy stance, and a strong reserve posture-projected at some $50 billion. These elements have helped the central bank better support the naira and control swings in the currency's value.



The official market has remained fairly stable, even with ongoing demand from importers, producers, and service provi...