The Idea of a flexible rate seems right but i hope it doesn't imply that the CBN will hold 199 and other sectors/exchange points bend between 285 and 350. I hope its not about Maintaining a tiered system similar to what Venezuela did by having a black market rate, a bank rate and government agency rates that all varied from one another. Venezuela was forced to devalue their currency after economic collapse under that system which created import shortages in a country that produces very little aside from Oil. Of course Venezuela had artificial rates that made their currency exchange in the government and bank outlets for a value greater than the dollar. Thats how Venezuela became the most expensive country in the world while even toilet paper and electricity were scarce on the market. Also the government could assign flexible and special rates to select people it favored and it created the round tripping effect among the favored people who used it to profit on the black market while doing no investments that produced goods locally.
I hope Nigeria's flexible currency policy is a more uniform rate across all sectors rather than a special tiered system like Venezuela was where it would be 1-99 at the black market and 1-.9 at the bank and then anywhere between 1-99 and 1-.9 at the government outlets. The governement outlets would give the favorable rate to those who applied for it and only their friends/family and partners in corruption were ever approved for the favorable rates at the governement outlets. A flexible tiered system like that is not a good thing. Venezuela economy collapsed under that currency exchange policy with very bad scarcity due to hindered imports and lack of local productivity. They have since devalued their currency across all sectors now so as to regain movement towards balance.

Check out this thread about concerns for the flexible currency exchange in Nigeria.

[url][/url]http://investorsking.com/nigerian-currency-crisis-explained-what-we-know-and-dont-know/

ASL33:
Thought you guys hailed him as a nononsence man that drives 505 pougeout. When did he turn to a rogue? B4 or after appointing him?

When the PUNCH news paper decided to score him zero make U kno say E don Red.

Zico5:
I was thinking of the magic wand Gej would have thrown if he was still the president. Nigeria would have gone into abyss. Upon how much this government is trying to save this country by blocking all loopholes and irrelevant spending, things are still not taking shape. Gej and PDP really destroyed this country. This fact can only be seen by true democrats and not tyrants in our system

Mumu talk! This same thinking is what landed us where we are today as a nation in just one year. Illiteracy is a disease!

sparkle10:
Mumu talk! This same thinking is what landed us where we are today as a nation in just one year. Illiteracy is a disease!

Slowly thier brain cells are recovering from the zombie promises
I don't see how anyone will smile when they buy petrol @ 140 and no light plus buy goods and service at %40 increment

sparkle10:
Mumu talk! This same thinking is what landed us where we are today as a nation in just one year. Illiteracy is a disease!

Why can't respond without abuse and do u think everyone is as silly as u are. If I call on moderator to barn u now u will start groaning. U need character to live. I'm not ur mate