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My Administration will unify foreign exchange rate, Tinubu vows
Newly-inaugurated President of Nigeria, Asiwaju Bola Ahmed Tinubu, has vowed that his government will unify the foreign exchange rates in Nigeria.
As at now, while the Federal Government maintains one exchange rate, there is the black market with a different rate.
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Speaking in his inaugural speech after he was sworn-in by the Chief Justice of Nigeria, Justice Kayode Ariwodola, Tinubu said his government will do everything to ensure that the rates are unified.
As at now, while the Federal Government through the Central Bank of Nigeria offers a lower rate, the black market is far more expensive.
As at close of work on Friday, while Dollar at the black market sold for $1 to N750, the government rate was about $1 to N470.
More details on this news website soon.
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