As Nigeria grapple with the fallout from the slump in global oil prices that has slashed the country's revenue, the Central Bank of Nigeria (CBN) on Tuesday abandoned its naira peg to the dollar in favour of a flexible currency regime.
The policy u-turn is set to boost local manufacturing and exports and stave off a recession.
However, CBN governor, Godwin Emefiele recently sparked off confusion in Africa's biggest economy by declining to explain how the shift from a naira fixed at 197 to the…
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