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JUST IN: CBN Grants Banks Freedom To Trade Forex At Any Rate
The Central Bank of Nigeria, CBN on Wednesday gave the go-ahead to commercial banks to freely trade foreign exchange at any rate.
The announcement comes after Godwin Emefiele’s suspension as CBN’s governor.
READ ALSO: Naira Falls As Tinubu Suspends CBN Governor Emefiele
This is in line with the promise of President Bola Tinubu to unify the multiple exchange rate in the market.
It is believed that banks can now sell forex at market-determined rates, suggesting Nigeria is now operating a freely floating exchange rate.
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