Why CBN asked banks to fix their own FX rates as IMTOs make decision

• The Central Bank of Nigeria has said Forex dealers can now fix their foreign exchange rates
• The bank said the move is to ensure transparency and easy access to foreign exchange to help boost the naira
• CBN said banks are now to conduct their FX transactions on a ‘Willing Buyer and Willing Seller’ basis

Pascal Oparada has over a decade of experience covering Tech, Energy, Stocks, Investments, and Economy.

The Central Bank of Nigeria (CBN) has paved the way for banks to sell foreign exchange at rates they deem fit in plans to stabilise the naira.

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