Archives Tag: Naira Devaluation
How to Protect Your Business from the Naira Devaluation
April 19, 2022
Earlier in June, the Central Bank of Nigeria announced that it was doing away with the long-standing fixed exchange rates for the naira. In a disclosure that grabbed headlines nationwide, the apex bank said that it would now float the local currency, i.e. allow market forces (demand and supply) to determine the rates for … Continue reading How to Protect Your Business from the Naira Devaluation
Central Bank of Nigeria (CBN) Refutes Claims of Naira Devaluation
April 19, 2022
In a recent development, the Central Bank of Nigeria (CBN) has vehemently denied the circulating news that it has devalued the Nigerian naira. Speculations had been rampant, claiming that the official exchange rate of 465 Naira to a dollar had been revised to a concerning 630 naira to a dollar. However, the CBN has come … Continue reading Central Bank of Nigeria (CBN) Refutes Claims of Naira Devaluation
