The Central Bank of Nigeria has carpeted critics and negative rating of the economy by an international agency, JP Morgan saying the country’s economy is on good footing.

The Governor of the Central Bank of Nigeria, Godwin Emefiele, described the rating agency’s concern and decision as baseless. The CBN assurance followed recent claims over the nation’s foreign exchange liquidity profile, even as JPMorgan removed the country from its emerging market bonds index.

.According to him, the nation’s ability to operate within three hundred and fifty million dollars and four hundred million dollars daily range of liquidity was a challenge. He also said that contrary to other opinions, the CBN had addressed the issue of transparency while meeting the dollar demand of the