The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has said that for the first time in a long while, Nigerians are beginning to trust the naira again.

He shared this update while answering questions at the end of the 301st Monetary Policy Committee (MPC) meeting held on Tuesday.

Cardoso explained that the naira has become more stable in the foreign exchange market. He added that this improvement is because of more openness and careful monitoring in the FX market.

He also said the most important change is that Nigerians are now showing more trust in the country’s currency.

Meanwhile, the CBN announced that the Monetary Policy Committee has decided to keep the interest rate unchanged at 27.50 percent.