Intensified efforts by the Olayemi Cardoso-led Central Bank of Nigeria (CBN), to put a stop to persistent slide in the value of the naira against the U.S dollar is not yielding the desired result, at least for now, due to poorly coordinated fiscal policy of the Federal Government.
Nigeria’s annual inflation rose in September to its highest level in about two decades at 26.72%, while the naira has continued to depreciate against the dollar at the parallel and official sections of the foreign exchange market.
