• No objection to flexible exchange rate – Buhari tells CBN

    No objection to flexible exchange rate – Buhari tells CBN

    Faced with an economy nearing recession and inflation at the highest in almost six years, President Muhammadu Buhari has backed down on his refusal to allow the naira to weaken.

    The President, according to Bloomberg, has given the Central Bank of Nigeria the go-ahead to introduce a more flexible exchange-rate system even as he remains against a devaluation of the naira.

    The foreign news agency quoted the President’s Senior Special Assistant on Media and Publicity, Garba Shehu, “The president is opposed to […]