Acting President, Yemi Osinbajo, in a bid to reverse the downward slump of the Naira against the Dollar, has ordered the Central Bank Of Nigeria, CBN, to harmonize the forex market, in a bid to have an organized official exchange rate platform, for prospective buyers. The development, is coming at a time the CBN had been accused of having over five different windows, where customers source for forex which according to financial analysts, was responsible for the massive devaluation of the nation’s local currency. As at yesterday, Monday, January 30, the naira exchanged at N498 as against N512 exchanged to a dollar few days ago in the black market. According to Foreign exchange traders, the development is as a result of to relative scarcity of forex at the greenback market, as CBN is trying to harmonize the market in a bid to strengthen the naira. In the official market, the local currency closed at N305/dollar, the level it has traded since August last year. Meanwhile, the naira is expected to remain at N498/dollar at the parallel market (black market), as the CBN continues sales of the greenback, to Bureau De Change, BDC operators. ”Confidence is gradually returning to the forex market as a result of improved foreign exchange reserves, dollar sales by international money transfer agents and the central bank assurance it will continue to support the local currency,” a trader told Reuters.