What is happening to naira? How was Osibanjo able to bring down the exchange rate when he was acting as president?

Something wey go enter 1k soon..

Na import-dependent economy dem wan float currency so that the currency go join the up and about madness wey dey worry the thieves in chief and policymakers ba?

Dem never serious. The same people wey dey mop up the Dollars for I&E windows go still hoard am to dump when the rate favors them and the cycle will continue.

No be Nigeria?

Voodoo economics no dey solve this balance of trade deficit.

This will affect the prices of goods and services.

Gosh

dallyemmy:
This will affect the prices of goods and services.

It should make no difference, unless from Nigerians wanting to exploit other Nigerians.

Nothing in Nigeria was ever sold @ bank rates in the first place.

daddytime:
Something wey go enter 1k soon..

Na import-dependent economy dem wan float currency so that the currency go join the up and about madness wey dey worry the thieves in chief and policymakers ba?

Dem never serious. The same people wey dey mop up the Dollars for I&E windows go still hoard am to dump when the rate favors them and the cycle will continue.

No be Nigeria?

Voodoo economics no dey solve this balance of trade deficit.

Since basically no import & export window, where will they mop up the dollars from to hoard?

favor914:
Since basically no import & export window, where will they mop up the dollars from to hoard?

Where are they "floating" the dollars?

In my bedroom, I suppose.