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Post by olukumi on Jun 15, 2016 14:47:01 GMT
The Central Bank of Nigeria, CBN, on Wednesday formally unveiled the much-awaited flexible foreign exchange policy, saying it would launch a forex interbank trading window that will be purely market-driven. The new policy effectively removes controls on the naira, and is expected to increase dollar supply and help the nation’s weak economy. Making the announcement in Abuja on Wednesday, CBN governor, Godwin Emefiele, said the bank will operate a single trading window, to be launched on Monday. The new window will have about 10 primary traders, to be appointed by the bank. Each trader will have a minimum volume of $10 million, he said. He said the new mechanism would enable businesses plan their portfolio effectively without fear of losses as a result fluctuation in exchange rates. “We are optimistic that the steps we have taken today will further deepen the market and help get foreign exchange into the market. I will say to Nigerians be calm, there is no need to worry, everything is well,” Mr. Emefiele said. www.premiumtimesng.com/news/headlines/205345-nigeria-unveils-new-forex-policy-removes-controls-naira.html
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Post by Honorebu on Jun 15, 2016 14:55:09 GMT
Lol which kind thread be this Mr olukumi
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Post by olukumi on Jun 15, 2016 15:47:10 GMT
Lol which kind thread be this Mr olukumi Lol. I couldn't wait to type...trusting someone will put the details when it becomes official.
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Post by Honorebu on Jun 15, 2016 15:57:27 GMT
Lol which kind thread be this Mr olukumi Lol. I couldn't wait to type...trusting someone will put the details when it becomes official. Yeah..it's official You can edit and post the details
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Post by olukumi on Jul 27, 2016 16:16:48 GMT
We've not seen benefits of the float. I think the CBN governor needs to be fired.
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Post by olukumi on Aug 10, 2016 16:19:00 GMT
We've not seen benefits of the float. I think the CBN governor needs to be fired. Same update. Floating naira hasn't seem to move a needle yet.
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Post by 12456 on Aug 12, 2017 5:33:17 GMT
Cool
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