Nigeria’s vice president urges central bank to review FX management strategy By Reuters – Investing.com

Nigeria’s vice president urges central bank to review FX management strategy By Reuters – Investing.com

By Felix Onuah

ABUJA (Reuters) - Nigeria's central bank needs to review its foreign exchange management strategy and ensure that the naira's valuation reflects market reality, Vice President Yemi Osinbajo said on Monday.

Nigeria has several exchange rates operating in parallel, a system put in place during a 2016 oil price crash because the government was seeking to avoid a large official devaluation of the naira as a matter of national pride.