| CBN: Time to Re-denominate the Naira | | Print | |
| Written by James Pam | |
| Thursday, 13 October 2011 16:53 | |
At the end of IMF's 2010 Article IV Consultation with Nigeria in February this year (2011), its conclusion was that the Naira was overvalued and should therefore be devalued. The IMF was also of the opinion that the country's monetary authorities should allow more flexibility of the Naira exchange rate. The CBN didn't agree. Sanusi continued to deplete our external reserves to support the Naira exchange rate, which he | |
| Read more... http://elombah.com/index.php?option=com_content&view=article&id=8468:cbn-time-to-re-denominate-the-naira&catid=25:politics&Itemid=92 |
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