Nigeria: How Not to Protect the Naira

opinion

The recent resolution by the House of Representatives calling on the Central Bank of Nigeria (CBN) to stop the "dollarisation" of the economy is indicative of how poorly the economy is being run.

Two related preliminary observations. One, the CBN is not driving this process. (Two), it is instead, the consequence of the "uncoordinated" actions of disparate local actors in the economy.

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