The country is hard hit by inflation which has, for the first time in two decades, rose to 31.7 percent as wages and salaries remain stagnant since 2018.
As Bismarck Rewane, CEO of Financial Derivatives, put it recently in a brilliant presentation on Channels TV, “if your GDP is at 3.4 per cent and your money supply grows by 79 per cent, ab initio, you are 73 per cent under water.” And, of course, the CBN must act!
Naira appreciation and calls for CBN to sustain monetary policies quicknews-africa.net - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from quicknews-africa.net Daily Mail and Mail on Sunday newspapers.
By Kadiri Abdulrahman, News Agency of Nigeria (NAN) In recent times the Naira, Nigeria’s legal tender, appears to be getting stronger after an all-time low of N1, 900 in exchange to the dollar in February. The currency started its gradual appreciation in March, peaking at N1, 230 at the parallel market in the first week
Naira appreciation: CBN's move towards sustain monetary policies – Blueprint Newspapers Limited blueprint.ng - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from blueprint.ng Daily Mail and Mail on Sunday newspapers.