FSDH Merchant Bank says the Central Bank of Nigeria should continue to restrict access to foreign exchange for the importation of items that can be locally produced produce and should work at unifying the multiple exchange rate regime in the country. Ayodele Akinwunmi, Head of Research at FSDH Merchant Bank joins CNBC Africa to breakdown this report.

As the Central Bank of Nigeria continues to work towards a convergence of rates in the forex space, what impact will an exchange rate convergence have on Nigeria's economy?

According to BMI Research's recent report titled, outlook for Nigeria's economy, improved oil production, higher oil prices, and greater exchange rate flexibility will all contribute to a return to positive real GDP growth in Nigeria in 2017.

CBN Forex Policy - Nigerian students in UK lament unstable exchange rates.

Nigeria's Central Bank plans to meet bureau de change operators today to explore ways to eliminate the gap between the official and parallel market dollar rates.

Nigerian equities market was broadly bearish; as profit taking by investors dragged the All Share Index 0.3 per cent down to settle at 25, 671.23 points.

Nigeria's vice-president Yemi Osinbajo says the country hopes to conclude the sale of a $1 billion Eurobond by the first quarter of 2017 and make its exchange rate more flexible.

Earlier this week, the Central Bank of Nigeria reviewed the exchange rate for remittances from N350 to N370 against the dollar.

Moody's investor’s service says Nigeria's five biggest banks have sufficient foreign currency liquidity to cover 18 months of maturing foreign currency debt obligations.

The Nigerian All Share Index closed down in yesterday's session. The negative performance was broadly driven by profit taking as expectations of the Central Bank's announcement on a flexible exchange rate policy stifled momentum.

While the naira/dollar rate remains pegged in the official market, the exchange rate has been volatile in the parallel market. Dollar supply remains weak amid speculation that the central bank is considering modalities for a second tier forex market.