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3232Report: Nigerian Central Bank Incentive Scheme Failed to Halt Naira Depreciation
https://www.digit.info/report-nigerian-central-bank-incentive-scheme-failed-to-halt-naira-depreciation/
Thu, 07 Jul 2022 10:30:16 +0000https://www.digit.info/2022/07/07/report-nigerian-central-bank-incentive-scheme-failed-to-halt-naira-depreciation/Read more]]>The Central Bank of Nigeria (CBN)’s attempt to incentivize the country’s forex market through the so-called “Naira for Dollar” scheme has failed. This is evidenced by the local currency’s plunge of more than 25% since the launch of the incentive scheme in March 2021. Naira Depreciation The CBN’s scheme that encourages recipients of cross-border remittances […]
The Central Bank of Nigeria (CBN)’s attempt to incentivize the country’s forex market through the so-called “Naira for Dollar” scheme has failed. This is evidenced by the local currency’s plunge of more than 25% since the launch of the incentive scheme in March 2021. Naira Depreciation The CBN’s scheme that encourages recipients of cross-border remittances […]