P
ProfRem
Guest
Central Bank of Nigeria governor, Godwin Emefiele has dismissed allegations of multiple foreign exchange rates in the country.
The apex bank Governor stated this at this end of the 254th meeting of the Monetary Policy Committee (MPC) on Wednesday in Abuja.
This is coming as Naira witnessed its worst year in history as it fell woefully against the United States Dollar by 57.8 percent in the interbank and 84.2 percent in the parallel segment in 2016.
The local currency began the year 2016 at 199.5 to a dollar at the interbank segmen with about 305/US1 at its current rate. Similarly, at the parallel market it began at 266/$1 and at 498/$1 as at Thursday morning.
He urged analysts to be factual about the current situation of Naira and not to be too speculative.
Mr. Emefiele says actors in power sector are qualified to benefit from 60 per cent forex allocation set aside for manufacturing sector.
The apex bank Governor stated this at this end of the 254th meeting of the Monetary Policy Committee (MPC) on Wednesday in Abuja.
This is coming as Naira witnessed its worst year in history as it fell woefully against the United States Dollar by 57.8 percent in the interbank and 84.2 percent in the parallel segment in 2016.
The local currency began the year 2016 at 199.5 to a dollar at the interbank segmen with about 305/US1 at its current rate. Similarly, at the parallel market it began at 266/$1 and at 498/$1 as at Thursday morning.
He urged analysts to be factual about the current situation of Naira and not to be too speculative.
Mr. Emefiele says actors in power sector are qualified to benefit from 60 per cent forex allocation set aside for manufacturing sector.