Vunderkind
Social Member
Institutions and individuals who are beneficiaries of the exchange rate regime of the Naira and those whose activities have had damaging effects on the local currency have been uncovered.
Despite the apex bank’s deployment of monetary policy measures to reduce pressure on the Naira and stem creeping core inflation, the nation’s currency has continued to lose value against the US dollar.
Investigations reveal that the Federal Government, through the #CentralBankofNigeria (CBN), by defending the Naira with foreign reserves, has given room to subsidy thieves in oil industry to thrive.
A growing number of economists and financial experts agreed that it did not make sensible policy to use the reserves to defend the Naira.
Click here to read more
Source: #NigerianTribune
Despite the apex bank’s deployment of monetary policy measures to reduce pressure on the Naira and stem creeping core inflation, the nation’s currency has continued to lose value against the US dollar.
Investigations reveal that the Federal Government, through the #CentralBankofNigeria (CBN), by defending the Naira with foreign reserves, has given room to subsidy thieves in oil industry to thrive.
A growing number of economists and financial experts agreed that it did not make sensible policy to use the reserves to defend the Naira.
Click here to read more
Source: #NigerianTribune
