President Muhammadu Buhari yesterday said he would not direct that the naira be devalued further.He stated this even amidst the Central Bank of Nigeria’s growing struggles to keep the naira at current levels.The CBN had devalued the naira in November last year and February this year.

The nation’s revenue has been hit hard by the fall of global crude prices, and the CBN has imposed increasingly strict foreign exchange rules to save the external reserves and avoid what would be the third devaluation in one year.