https://next.ft.com/content/c038cad6-3476-11e6-bda0-04585c31b153

Nigeria capital controls and fixed exchange rate was not aligned with the changing micro and macro economic situation. Nigeria depend on the price of oil to effectively manage its economy and since the oil price collapsed. The fix exchange rate eroded the central bank ability to mange the changing fortunes of the  independence of the Central Bank of Nigeria. The fix exchange rate benefited the poor at the expense of the export business sector of the economy.  The fix exchange rate accelerated capital fly.