Yesterday, Bloomberg quoted Mr. Ugochukwu Okoroafor, the Special Adviser, Media, to the CBN Governor as saying, “We haven’t seen any reason so far to institute a change in the foreign-exchange policies, the preponderance of foreign currency in the country has led to speculative attacks on the naira. People who have done it in the hope we’ll devalue will be hurt.” This comment comes on the back of more recent calls for the devaluation of the naira as countries like China, Kazakhstan and Vietnam devalued their respective currencies. Read more
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