Research and Analytics
Research and Analytics
Five years ago, 5 naira and 10 naira currency were a significant part of our national denomination, and you could walk into any shop and get sweets, biscuits for that amount. This same 5 and 10 naira are becoming hard to come by, with little or no purchasing power. Coins have gone into extinction, confined to the books of accounts only, telling us the currency keeps losing its value with the passage of time.
In a bid to increase access to Forex, the CBN created the I&E FX (Investors and Exporters Forex Window) in 2017 for importers in order to ease the pressure faced by the businessmen in the foreign exchange market. However, there still have been disparities among the CBN official rate, I&E rate (also known as NAFEX) and the parallel market rate.
This article explains why the idea of printing more money is unfounded given the state of the Nigerian economy.
With the Coronavirus outbreak having its toll on business and economic activities, recently released trade figures as well as policies not having their desired effects, we believe that there will be an unexpected naira devaluation in 2020. This is why we explained our reasons in this article.
An Introduction Though started on December 30 2019 when Dr. Li Wenliang dropped bombshell in his medical school alumni group on WeChat about the kind of illness he had seen from seven patients, the coronavirus was officially recognized by the Chinese scientists on January 7, 2020. According to NYTimes, the virus has sickened more than […]
