The Central Bank of Nigeria has allowed commercial banks to freely trade foreign exchange at any rate.
The announcement comes after Godwin Emefiele’s suspension as CBN’s governor.
President Bola Tinubu had promised a holistic FX reform that includes harmonizing exchange rates in other to woo investors into the country.
According to reports, the development is coming after the sack of former Central Bank Governor Godwin Emefiele who dictated rates at which the dollar is sold at the three different FX windows held by the country.
Details shortly.
Source:
NewsWeek
