According to the head of the Nigerian group of bureau de change operators, the naira’s continued fall on the parallel market is down to the activities of speculators. However, Aminu
Category: Currency Devaluation
Nigeria Devalues Currency as Central Bank Moves to Unify Exchange RatesNigeria Devalues Currency as Central Bank Moves to Unify Exchange Rates
In a possible policy shift, the Central Bank of Nigeria (CBN) recently allowed the local naira currency to briefly drop to a new low of USD$1 for 419.75 nairas on