CENTRAL BANK NEW NAIRA DEFENCE STRATEGY TO FAIL… FOREX ROUND TRIPPING DEEPENS

Governor of Central Bank of Nigeria, Prof Chukwuma Soludo, may be fighting a lost battle in the foreign exchange segment of the money market. Since November 2008 when the value of the Naira, the national currency commenced a tail spin in a downward spiral that has become unrelenting, the CBN Governor had continued to […]

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CENTRAL BANK NEW NAIRA DEFENCE STRATEGY TO FAIL… FOREX ROUND TRIPPING DEEPENS

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Governor of Central Bank of Nigeria, Prof Chukwuma Soludo, may be fighting a lost battle in the foreign exchange segment of the money market. Since November 2008 when the value of the Naira, the national currency commenced a tail spin in a downward spiral that has become unrelenting, the CBN Governor had continued to role out measures aimed at managing the exchange rate of the Naira with other currencies within what is described as reasonable band.