Amaka Obiefuna.

The NCRIB, Nigeria Council of Registered Insurance Brokers says the Central Bank of Nigeria (CBN) should be praised for strengthening the naira.

Kayode Okunoren who is the President of the council made this commendation at the 2017 first quarter press conference in Lagos.

Mr Okunoren said it is heartwarming that in the last few weeks the Naira has been appreciating against other foreign currencies, bringing a little succor to Nigerians. The efforts of government through the CBN in this regard are quite commendable, he said adding that as a consuming nation, “We all know the agonies which the weakening Nigeria posed to daily living and survival of Nigerians”.

The insurance council president also advised government not to relent in promoting the production of local products that could be exported to earn foreign exchange in the international market.

His words: “Our diversification initiatives must be followed through while there should be a renewed campaign in re-orientating the minds of the citizens away from over dependence on foreign goods and services. Definitely, there is no nation that can ever develop depending wholly on foreign products”