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What’s the true value of the naira?

The Governor of the Central Bank of Nigeria Godwin Emefiele says it is unfair that experts are using the parallel market rate to back their argument that the naira is overvalued and therefore calling for devaluation. While stressing the stability of the naira at the official window, the CBN governor noted that the naira had already been devalued by about 28 per cent this year. Analysts have in recent times raised concerns about the gap between the official naira exchange rate and that of the parallel market. Aminu Gwadabe, President of the Association of Bureau De Change Operators of Nigeria and Dipo Ajayi, Head of Fixed Income and Forex at Chapel Hill Denham joins CNBC Africa.

Thu, 26 Nov 2020 05:45:53 GMT
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