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Nigerians Shun Local Currency— Seek to Protect Wealth From Inflation and Currency Depreciation with Foreign Currency – DIGIT INFO

Nigerians Shun Local Currency— Seek to Protect Wealth From Inflation and Currency Depreciation with Foreign Currency

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Nigerians are thought to be accumulating foreign currencies which they believe will protect their wealth from the naira’s volatility as well as the surging inflation. Further, as a research paper in a journal published by the Central Bank of Nigeria (CBN) found, Nigerians’ use of dollars exceeds IMF’s 30% threshold. Exchange Rate Volatility and Currency […]

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