Osinbajo Calls For Review Of Forex Management System

Vice President Yemi Osinbajo has faulted the foreign exchange policy adopted by the Central Bank of Nigeria, CBN.

The Vice President, who spoke at the Mid-Term Ministerial Performance Review Retreat on Monday, said the exchange rate is artificially low and does not reflect the current market realities.

He blamed the lack of access to forex for the importation of systems and raw materials as one of the contributory factors of the current economic situation.

The Vice President advised the apex bank to have a rethink about its current forex demand management strategy