May 9, 2021
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More Nigerians keep foreign assets to safeguard against devaluation, inflation ~CBN report

by on April 22, 2021 0
Nigerians have been accumulating foreign currencies to protect their wealth from naira volatility and surging inflation, according to a research paper in a journal published by the Central Bank of Nigeria (CBN). “Higher real-exchange rate volatility is associated with an increased level of currency substitution,” central bank economists including Isaiah Ajibola, Sylvanus Udoette, Rabia... Read More