Huhuonline.com can disclose that after several years of resisting pressure from the World Bank and the International Monetary Fund (IMF) to float the Naira, the Central Bank of Nigeria (CBN) appears to have backed down.
Today, forex traders- commercial banks and forex dealers- were allowed to trade the Naira freely without a cap on the rate.
Forex traders at the Investors and Export (I&E) window were only allowed to buy and sell Forex only at N1 difference.
Th Naira is exchanging at N750 to the dollar as at press time.
