Allow Forex Rates to Reflect Market Realities – Vice President Osinbajo Tells Central Bank of Nigeria

Following the accelerating free-fall of the naira that has compounded Nigeria’s forex crisis, Nigeria’s Vice President Yemi Osinbajo has asked the Central Bank of Nigeria (CBN) to allow market forces to determine forex rate. The Vice President said this on Monday during a speech at the Midterm Ministerial Performance Review Retreat which was held at the Banquet Hall, Presidential Villa, Abuja. He noted that Nigeria’s official exchange rate is “artificially low”, asking the CBN to rethink its strategy in tackling the forex crisis. “As for the exchange rate, I think we need to move our rates to be more reflective … Continue reading Allow Forex Rates to Reflect Market Realities – Vice President Osinbajo Tells Central Bank of Nigeria