Nigeria needs to close gap between official and black market rates “very soon”: VP

Nigeria's Vice President Yemi Osinbajo speaks at the Regional Protection Dialogue meeting on Lake Chad basin in Abuja, Nigeria June 8, 2016. REUTERS/Afolabi Sotunde

DAVOS, Switzerland (Reuters) – Nigeria needs to close the gap between the official and black market rates for the naira against the dollar “very soon”, Vice President Yemi Osinbajo said on Tuesday.

“The gap between the official and parallel market… it isn’t helpful,” he told reporters at the World Economic Forum in Davos. “If you look at economic recovery and growth plan it is the expectation that this is a conversation we are having with central bank.”

(Reporting by Dmitry Zhdannikov and Sujata Rao; Writing by Ulf Laessing; Editing by Dominic Evans)


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