Foreign reserves decline as the naira declines in spite of FX changes thenews-chronicle.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thenews-chronicle.com Daily Mail and Mail on Sunday newspapers.
THE decision of the Monetary Policy Committee of the Central Bank of Nigeria to increase the benchmark interest rate by 400 basis points to a record 22.75 per cent, has elicited mixed reactions. Although some welcome the move, many financial experts argue that it will compound the woes of the already impoverished citizens.