FG, CBN to close forex rates’ gaps

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Vice President Professor Yemi Osinbajo

Vice-President Yemi Osinbajo said the Federal Government is in talks with the Central Bank of Nigeria (CBN) to close the foreign exchange (forex) rates at the official and parallel markets.

“The gap between the official and parallel market it isn’t helpful. “If you look at economic recovery and growth plan, it is the expectation that this is a conversation we are having with central bank,” Osinbajo was quoted to have said by Reuters while speaking with reporters at the World Economic Forum (WEF) in Davos, Switzerland.

The vice-president, who was in the Niger Delta on Monday and early Tuesday, led the country’s delegation to the forum, where pivotal issues concerning the Nigerian and global economy will be addressed.

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