A meeting between the Central Bank of Nigeria (CBN) and local currency traders has failed to dispel uncertainty over the implementation of plans to abandon the naira peg and adopt a flexible currency, bankers said on Thursday. The Financial Market Dealers Association (FMDA), an association made up of local currency dealers, initiated the meeting with the CBN Governor, Godwin Emefiele on Wednesday to discuss the policy, Reuters quoted the market operators to have said. The central bank announced last week plans to abandon the naira's 15-month peg to the dollar, which has overvalued the Nigerian currency, harmed investments and caused the economy to contract. However, the bank has yet to clarify how the new policy would work, spooking foreign investors, long worried about getting caught in the middle of a currency devaluation. "We are unlikely to get anything in the next two to three weeks. I don't think the guidelines are ready. The reality is that he (the governor) does not understand the meaning of signals," said one senior banker, speaking on condition of anonymity.

the ediot CBN governor nor get policy to release naaaa

SLIDEwaxie:


The flexibility of the naira is already taking place...didn't the customs just announced a new payment structure for dealing in dollars?

Didn't some banks just pegged their dollar transactions?

What do u guys always do on the internet aside facebook, bigotry and tribalism?

Have u tried buying yuans from the banks?

Ask the importers from china and u will be schooled!

Are u really sure u want to stand by the above harebrained assertions made on the other thread about what was wrong with the CBN?

http://www.thisdaylive.com/index.php/2016/06/03/cbn-declined-in-clarifying-currency-plans/

http://www.financialwatchngr.com/2016/06/03/cbn-declined-clarifying-currency-plans/