CBN has no multiple exchange rates – Emefiele
May 27, 2019
12:00 am
Those accusing the Central Bank of Nigeria (CBN) of operating multiple foreign exchange (forex) rates are wrong, CBN Governor Godwin Emefiele has said.
What obtains are multiple foreign exchange (forex) windows, Emefiele said.
The CBN boss spoke at the University of Ibadan (UI) Distinguished Leadership Lecture Series, organised by the university in collaboration with the apex bank in Ibadan.
The multiple forex windows ensures that forex reaches critical sectors of the economy, he added.
Emefiele noted that the naira exchange rate had substantially converged around N360/$1, whether it is in the parallel market, or in the CBN.
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