CBN calls out forex parallel market as tainted, corrupt

Uche Usim, Abuja
Central Bank of Nigeria (CBN) Governor Mr Godwin Emefiele on Tuesday hit armchair experts for benchmarking the exchange rate on the parallel market (black market) rate of N480/$1, describing the development as most unfortunate and ruinous to the economy.
He described the parallel market as a tainted den of corruption, suggesting that those who play in that space offer bribes to procure foreign exchange due to the paucity of relevant documents needed to access it via the Investme