OREANDA-NEWS. February 17, 2015. Nigeria's central bank said on Friday it will do all it can to meet legitimate dollar demand on the interbank market and not devalue the naira currency, hit by falling oil prices and concern over political stability in Africa's biggest economy.

Spokesman Ibrahim Muazu confirmed the central bank's forex sale on Friday and said the bank will continue the forex sale on a "need basis" to satisfy demand in the interbank market and curb speculative attacks, which he said was the reason behind the currency weakness.

"Our target is to stabilize the market in the interest of investors and the economy. We will do everything to ensure that we meet demand," Muazu told Reuters.