Addressing naira’s free fall in FX markets

It’s been about two months since the Central Bank of Nigeria stopped the sale of forex to Bureau De Change operators and switched to banks. Since then, the value of the naira at the parallel market dropped from around 500 to about 550 naira to a dollar. Interestingly, the CBN says it is not worried about currency valuation but is more focused on having enough dollar supply to meet demand. Egie Akpata, Director at UCML Capital joins CNBC Africa for more.