The Central Bank of Nigeria (CBN) has given commercial banks and dealers in the forex market the green light to sell forex freely which is at a
This is in line with the promise of President Bola Tinubu to unify the multiple exchange rate in the market.
The development means banks can now sell forex at market-determined rates, suggesting Nigeria is now operating a freely floating exchange rate. However, official confirmation will have to come later in the day when data from the FMDQ is available.
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