Floating Naira Worst Economic Decision Since 1999— Economists React As $1 Sells For Over N1,420

Some Nigerian economists have said that the foreign exchange policy of floating the naira which was introduced by the Central Bank of Nigeria last year is the worst economic decision since 1999.

The naira has been on a steady fall crashing to N1420 per dollar in the early hours of Friday while it reached a daily high of N1,399/$ at the Nigerian Autonomous Foreign Exchange Market spot rate on Thursday.

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