Nigeria: 'Naira Crashes 108% Against CFA? No, It's Not So

21 September 2020

The Guardian newspaper of August 24, 2020 had the front page headline titled "Naira Crashes 108 per cent against CFA," by Geoff Iyatse. In a similar vein, one has read, or heard of other pronouncements, in the past that the naira depreciated by hundreds of percentage points.

The CFA is the currency used by the Franco-phone groups of countries in West Africa and Central Africa. It has a strong link to the French franc.

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