CBN to eliminate multiple exchange rates regime- Emefiele vanguardnews
CBN Governor, Mr. Godwin Emefiele disclosed this yesterday while confirming plans for unification of exchange rates.
The multiple exchange rate regime led to the emergence of different exchange rates in the three major segments of the foreign exchange market, namely the official market, the Investors and Exporters window also known as NAFEX, and the parallel market. “We will continue to pursue unification around the NAFEX Market”, Emefiele said, noting that as at the end of 2019, Nigeria experienced a “relatively stable market because the NAFEX rate and rate that the Central Bank does transaction outside the NAFEX was close to themselves. At some point, the NAFEX rate me below the Central Bank rate”
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Over 500 maize farmers receive N89m CBN farm inputs in AnambraA total of 535 maize farmers in Anambra would receive farming inputs worth over N89 million under the Central Bank Anchor Borrowers Programme...
Read more »
Experts foresee faster economic recovery with CBN interventionsSome experts have hailed the Central Bank of Nigeria (CBN) for its intervention to enable the economy to pick up following the adverse effects of COVID-19, saying they were capable of fast tracking…
Read more »
The new spirit of teamwork at FIRS - The Nation NigeriaIn the 21st century, rating effective leadership is now based on leaders’ possession of ‘soft skills’. Leadership today is no longer rated by intimidating ..
Read more »
Over 500 maize farmers receive N89m CBN farm inputs in AnambraA total of 535 maize farmers in Anambra would receive farming inputs worth over N89 million under the Central Bank Anchor Borrowers Programme...
Read more »