Central Bank of Nigeria
Cowry Asset Management
foreign currency
naira depreciation
naira devaluation
naira exchange rate
naira for dollar
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Nigeria forex market
Report: Nigerian Central Bank Incentive Scheme Failed to Halt Naira Depreciation
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…