The economy is going down faster than me in the club when Michael B Jordan says he only likes baddies. This country’s deteriorating security situation not only undermined investor confidence and reduced forex inflows, but it also hurt the economy by raising the cost of gasoline subsidies and boosting oil theft.
A few days after security personnel stormed a Bureaux De Change (BDC) hub in Abuja, the naira continued to strengthen on the black market Wednesday, strengthening to N660 per dollar.
On the black market last week, the national currency had decreased to around N715 to a dollar.
It is clear from all the moves the finance sector of nigeria hade that they are doing what they believe is best but is it working?