Following the free fall of the Naira against the Dollar in the foreign exchange market, the National Economic Council, NEC, has asked the Central Bank of Nigeria, CBN, to urgently review its foreign exchange policy. NEC noted that the current exchange rate, which had invariably affected the prices of goods in the market to an all time high, was no longer sustainable.

At the moment, the local currency exchanges N510 to one Dollar. The development confirmed Vanguard Exclusive report yesterday that the Federal Government needed to take urgent and drastic steps to revive the economy and also save the Naira.

Briefing State House correspondents at the end of NEC meeting presided over by the Acting President, Yemi Osinbajo, at the Presidential Villa, Abuja, yesterday, the Deputy Governor of Nassarawa State, Mr. Silas Aghara, who was joined by his Rivers State counterpart, Dr. Ipalibo Harry Banigo, the Minister of Finance, Mrs. Kemi Adeosun and that of Agriculture, Chief Audu Ogbeh, said governor of the Central Bank of Nigeria, Mr. Godwin Emefiele, pleaded for time, patience and understanding of Nigerians to revive the economy.
http://gistbox.com.ng/nec-calls-for-urgent-review-of-forex-policy-as-naira-falls/

Another round of devaluation loading....

lalasticlala, dominique, Mynd44

http://www.vanguardngr.com/2017/02/nairas-free-fall-nec-seeks-urgent-review-foreign-exchange-policy/

mediang:
Following the free fall of the Naira against the Dollar in the foreign exchange market, the National Economic Council, NEC, has asked the Central Bank of Nigeria, CBN, to urgently review its foreign exchange policy. NEC noted that the current exchange rate, which had invariably affected the prices of goods in the market to an all time high, was no longer sustainable.

At the moment, the local currency exchanges N510 to one Dollar. The development confirmed Vanguard Exclusive report yesterday that the Federal Government needed to take urgent and drastic steps to revive the economy and also save the Naira.

Briefing State House correspondents at the end of NEC meeting presided over by the Acting President, Yemi Osinbajo, at the Presidential Villa, Abuja, yesterday, the Deputy Governor of Nassarawa State, Mr. Silas Aghara, who was joined by his Rivers State counterpart, Dr. Ipalibo Harry Banigo, the Minister of Finance, Mrs. Kemi Adeosun and that of Agriculture, Chief Audu Ogbeh, said governor of the Central Bank of Nigeria, Mr. Godwin Emefiele, pleaded for time, patience and understanding of Nigerians to revive the economy.
http://gistbox.com.ng/nec-calls-for-urgent-review-of-forex-policy-as-naira-falls/

Have they got tired of blaming GEJ?