Claims Dangote’s temporary dollar pricing exposed how major firms can trigger FX shocks
Seeks greater transparency, deeper reforms, long-term capital to strengthen market resilience
James Emejo in Abuja
Chairman, Alliance for Economic Research and Ethics (AERE), Hon. Dele Oye, has warned that the $4.4 billion Foreign Exchange (FX) turnover recorded in a single week, reveals underlying fragility of the currency market rather than proving its strength.
He said while the historic trading volume underscored the market’s ability to process large transactions, this should not be misconstrued as evidence of a deeper, more liquid or resilient FX market capable of withstanding economic shocks.
