The Central Bank of Nigeria, CBN , Godwin Emefiele in the midst of the banker’s committee, is currently releasing concrete details of the promised flexible exchange rate.
About three weeks ago, Emefiele announced that the apex bank will now apply a two rate system, But there was a quiet period that led to serious panic in the financial markets.
#CBN set to release new Guidelines on flexibility in the Foreign Exchange Market structure on Wednesday, June 15, 2016
— Central Bank of Nigeria (@cenbank) June 14, 2016
As monitored from Abuja, Emefiele said “Nigeria’s Forex reserves supasses pent-up dollar reserves”. The entire financial markets is looking at the outcome of the briefing. PageOne.ng will keep you abreast of the final conclusion.
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