Naira exchange rate stability and the Irrelevancy theory of the Bureau de Change By JONA N. EZIKPE — National Accord Newspaper nationalaccordnewspaper.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from nationalaccordnewspaper.com Daily Mail and Mail on Sunday newspapers.
The Central Bank of Nigeria (CBN) has removed the exchange rate of N379/$1 from its website homepage conforming with the bank’s policy that the NAFEX rate is now the default reference exchange rate for official and legitimate transactions.
A check by Nairametrics confirms it has been removed while sources within the CBN also confirmed it has been officially removed.
Since the Central Bank last adjusted the exchange rate in August 2020, it has retained the exchange rate of N379/$1 on its website homepage which in the past, represented the official exchange rate. The exchange rate displayed on the website has historically been referenced as the official exchange rate of the country.