The Unholy Union Between the Naira and Devaluation
In 2020, the Naira lost 25% and 27% of its value at the NAFEX and parallel exchanges, respectively. This quickly disrupted my plans, as I had planned to upskill and purchase some courses…
Towards a Unified Foreign Exchange Rate System in Nigeria
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…
Central Banks’ Digital Currencies: To Cherish or Not?
Tech companies have done a lot to make cashless payments mainstream, and while the argument that the central bank should officially approve the adoption of digital currencies or regulate them is ongoing, the…
The Economics of Printing the Naira
This article explains why the idea of printing more money is unfounded given the state of the Nigerian economy.
FOREIGN EXCHANGE RESTRICTION: BEFORE YOU CRITICIZE THE CBN.
Foreign exchange is the exchange of one currency for another, or the conversion of one currency into another currency. It also refers to the global market where currencies are traded virtually around-the-clock. The…