A Civil Society Group, The Wailing Wailers, has condemned in what it termed, “conflicting and unclear monetary policies,” the Federal Government and especially the Central Bank Of Nigeria, CBN’s alleged sharp practices and anti-masses policies which it said have brought the Naira to exchange with the U.S Dollar at a sorry rate of N500 to $1, thereby unleashing severe hardship and misery on the people. It said, the policy which involves sharp practices in Forex tradings sees the apex bank selling the Dollar at a cheaper rate to the Federal government, some few politicians and some rich cabals who in turn sell at the black market at highly exorbitant rates of N500 to $1 , a development among others, it said have led to inflation in the country.
source:http://www.vanguardngr.com/2017/01/occupycbn-group-condemns-alleged-sharp-practices-cbns-forex-tradings/
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