Nigeria’s Parallel Market Exchange rate is a daily compilation of the price of the Naira against three major currencies
Banks with exposure to power and oil companies are also expected to suffer a little more. Loans sourced in foreign currency have practically doubled within a year on devaluation while revenue has dried up. Avengers are winning, let’s be a little bit humble.
For FDI to step in to fill the dollar void, our government must go beyond sheer rhetoric such as making ‘exotic’ statements about debottlenecking the economy/improving business climate etc to ACTUAL ACTION.