Given how poorly the balance on our reserves is, intervention through BDCs is at present more show than substance. On balance, therefore, it is difficult to assume that the pressure on the naira will abate in the near- to medium-term. If, however, there are recognised paths to this outcome, the CBN is currently on the fastest route in the light of congestion at the traffic nodes highlighted.
The gaiety with which the Federal Government’s boosters roll out numbers in support of…
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