President Bola Tinubu promised to unify the exchange rates. The ridiculous disparity of 461 to the parallel market of 740 simply makes no sense.

Though Daily Trust reported that the Naira had been devalued at the official window from 461 to 631 to a dollar, the CBN debunked it

I feel for the rate to drop, the CBN must not only devalue the Naira at the official market rate but must resume the sale of $20,000 weekly to the Bureau De Change operators. This will flood the parallel market will fx, immediately crashing the rates there.

I think Emefiele knows what to do, but seems to be dragging his feet.

I feel the rates can "unify" around N630 which will be a win for the government by increasing revenue, and a win for the private sector as the cost of purchasing dollars reduces to a more affordable price. It will encourage the inflow of forex into the economy which will be very much welcome.

Edit: This issue has become more pertinent after the Naira was floated. It is a mockery a the Naira and there's still a wide divide between the official rate and the black market rate

It is high time government closes the gap between the official rate and black market asap. I

Are you still hoping that a thief will change ?

successmatters:
Are you still hoping that a thief will change ?

I don't know if he is not only crooked or just incompetent. People are just being patience because Tinubu is barely a week in office.

The sooner they get rid of him, the better.

Government needs to restart the sale of dollars to the BDC so as to close the wide gap between official and blackmarket rate which around 15%. This is far above the World Bank recommended differential of 5%