Confusion over Nigerian central bank’s exchange rate policy

CBN governor Godwin Emefiele

There is confusion over whether Nigeria’s central bank will unify the country’s different exchange rates, several locally based reporters have said.

Nigeria has run several exchange rates since 2015 after imposing currency controls, and the International Monetary Fund has called on policymakers several times to unify them.

Last month, Nigerian finance minister Zainab Ahmed pledged that president Muhammadu Buhari’s government would unify the rates in the next 12 months. Reuters news agency

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