Nigeria To Get A Unified Exchange Rate Soon-Federal Government Reveals

The Inconsistency of the exchange rate the country’s local currency from both the black market, forward Market and Parallel market has continually affected the ease of transaction and the payment of monthly allocation to the thirty-six states of the federal government.

However, In a bid to curb the Inconsistency, president Muhammadu Buhari led administration has proposed a unified exchange rate to the country’s local currency from both the black market, forward Market and Parallel market to aid the payment of monthly allocation to the thirty-six states of the federal government.

Nigeria’s  Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed who made this known yesterday evening revealed that the Economic Sustainability Committee set up by President Buhari gave the proposition as one of the action points that could address the economic challenges of the COVID-19 pandemic.