CBN Flexible Forex Policy is on Trial - Emefiele Finally Admits

By -
Godwin Emefiele
The Flexible Exchange Rate Inter-bank Market policy is on trial, the Central Bank of Nigeria (CBN) said yesterday.


It will make room for more stakeholders, including bureaux de change (BDC) operators, to participate, CBN Governor Godwin Emefiele said.

He spoke at the interactive session between the BDCs and the CBN on the new policy and the state of the forex market, The Nation reports.

He assured the BDCs that they will be factored in while acknowledging their impact on businesses. The broad framework and guidelines of the Flexible Exchange Rate Inter-bank Market was released by the CBN on June 15 during which it restored the automatic adjustment mechanism of the exchange rate with the re-introduction of a flexible inter-bank exchange rate market.

The CBN said the workings of this market will be consistent with its objectives of enhancing efficiency and facilitating a liquid and transparent Foreign Exchange Market.

Emefiele, who was represented by CBN Director, Financial Policy and Regulation Department, Anthony Ikem, said: “The CBN wants to accommodate and carry all stakeholders along. All that management is requiring for the BDCs is to be more patient. The new policy is being tested. Efforts will be made to see how the BDCs, which are critical to economic development, will be carried along”

Comments

Post a Comment

Popular posts from this blog

Girl Who Escaped Opens Up: Boko Haram Rapés Us Up To 15 Times Everyday

By -
Image
As you read this, the over 200 female students abducted on April 14 from Government Girls School,Chibok, in Borno State are passing through hard times, with some of them being rapéd for as much as 15 times a day. One of the abducted girls who managed to escape made this shocking revelations. According Daily Mirror, “Families of the schoolgirls, aged between 15 to 18, are certain their daughters are now being used as séx slaves by an extreme sect that has killed 1,500 people since the start of this year alone. They are captives in the wild Sambisa Forest in north-east Nigeria where Boko Haram has a heavily armed camp of bunkers, tunnels, ramshackle buildings and tents.  “ One girl who recently escaped following an earlier kidnapping said she was prized as a terror leader’s wife because she had been a virgin . She said young female captives were raped up to 15 times a day, forced to convert to Islam and had their throats cut if they refused.” Daily Mirror said th...
Read more

Mushin Violence: Serial Killer, Others Arrested By The Police

By -
Image
Toba and Muda The Lagos State Police Command has arrested alleged serial killer, Adigun Oriyomi, aka Muda, after five months of being on the run. The command also arrested two others, including the alleged gang leader in the Fadeyi area of the state, Toba Ajiboye. PUNCH Metro had reported that Muda was arrested last year for murder and was charged to court and remanded, but was later released. After his release, Muda was said to have gone after those who wrote statements against him at the police station and was said to be involved in about four more murders, including that of a pregnant woman and her three-year-old child in the Akala area of Mushin.
Read more

HISTORY: THE STORY OF PROPHET EDWARD OKEKE (a.k.a Eddie Nogu, Okara mmadu Okara Mmuo) #BBNaija

By -
Image
E ddie "Nawgu" Okeke's alias was "Alusi N'eje Uka" this when translated to the English language means "The Diety Who Goes To Church". Prophet Edward Okeke (a.k.a Eddie Na Nogwu)was a Nigerian self-Proclaimed "Prophet of God" and Occult Practitioner. He was popularly known in the mid-1990s as "Eddy Nawgu" amongst the igbo speaking People. His nickname "Nawgu" came about because he was from the Nawgu community, a town situated in Dunukofia Local Government Area of Anambra State, Nigeria. He was a legend in the Word of crime in Anambra State, Nigeria. he committed so many atrocities during his life time. Rumor even has it that,he 'buried alive' able bodied young men/women (human beings) inorder to do his foundation in his house and around his fence.Although he was later Killed by the Bakasi boys and his house and church were burnt down. Let us look at his Tale empirically. Early life of Edward Okeke...
Read more