The Alliance For Economic Rsearch and Ethics LTDGTE
$4.4bn FX weekly turnover exposes vulnerability of Nigeria’s foreign exchange market, says Oye
…warns against dollarisation of the nation’s economy
The Chairman of the Alliance for Economic Research and Ethics (AERE), Dele Oye, has said that the record $4.375 billion recorded in Nigeria’s foreign exchange market within a single week has exposed the vulnerability of the country’s currency market and highlighted the need for better transparency and deeper structural reforms.
Oye, in a statement titled, “What a Record FX Week Really Reveals About Nigeria’s Market,” argued that the surge in turnover should not be mistaken for evidence of a stronger and more resilient foreign exchange market.