ABUJA, JANUARY 26, 2017 – The central bank Nigeria said on Thursday that those who oppose its foreign exchange policy are unpatriotic, after it came under criticism for pegging the naira at an artificially strong rate to the dollar despite strong inflationary pressure.
The naira can sell for almost 500 to the dollar on the illegal parallel market, while the government pegs its value to around 305 to the dollar.
CBN policies are aimed at conserving foreign exchange, stimulating agriculture and manufacturing and promoting exports, the central bank said in a statement.
