https://www.youtube.com/watch?v=d9CmNcDS-N4
The MPC decided that it would embrace flexibility in foreign exchange but it did not announce any band. CBN Governor, Godwin Emefiele told journalists that an announcement would be made as soon as a band is agreed upon. Before now, the MPC had vehemently resisted calls for the devaluation of the naira following the depreciation of the currency in the parallel market. The naira is currently trading at N340 to the dollar in the parallel market as against the official rate of N197. Recently, Nigeria’s Vice President, Professor Yemi Osinbajo had called on the Central Bank to embrace flexibility in its exchange rate policy.