February 19, 2015 BY Andrew Saks-McLeod

Central Bank of Nigeria shuts down its official FX window due to volatility

"The Apex Bank noted that the wide gap between the official and interbank value of the naira had engendered undesirable practices, including round tripping, speculative demand, rent seeking, spurious demand and inefficient use of scarce foreign exchange resources by economic agents" - Ibrahim Mu’Azu, Director of Corporate Communications, Apex Bank

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