Forex Trading: CBN’s Decision For Banks To Trade Freely Would Benefit Nigeria's Economy - Basil
The Central Bank of Nigeria, the central bank of Nigeria, has requested that all commercial banks in the nation engage in foreign exchange trading. This action differs from the earlier parallel rates about which Nigerians have long complained.
President Bola Ahmed Tinubu mentioned having a single exchange rate applied to all transactions when he was inaugurated, albeit the new policy has not yet been formally established.
The implications of the strategy and how it would help the local populace have once more been questioned.
Host: Gbenga Aborowa
Guest: Basil Abia, Research Associate, Kwakol Research, Abuja.
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