The Kunle Blog.

𝐁𝐫𝐞𝐚𝐤𝐢𝐧𝐠 𝐍𝐞𝐰𝐬: 𝐂𝐞𝐧𝐭𝐫𝐚𝐥 𝐁𝐚𝐧𝐤 𝐨𝐟 𝐍𝐢𝐠𝐞𝐫𝐢𝐚 𝐢𝐬 𝐚𝐛𝐨𝐮𝐭 𝐭𝐨 𝐢𝐧𝐭𝐫𝐨𝐝𝐮𝐜𝐞 𝐚 𝐧𝐞𝐰 𝐍𝐚𝐢𝐫𝐚 𝐩𝐨𝐥𝐢𝐜𝐲 𝐛𝐲 𝐍𝐨𝐯𝐞𝐦𝐛𝐞𝐫 𝟐𝟎𝟐𝟑 𝐭𝐡𝐚𝐭 𝐰𝐨𝐮𝐥𝐝 𝐦𝐚𝐤𝐞 $𝟏 𝐔𝐒𝐃 𝐞𝐱𝐜𝐡𝐚𝐧𝐠𝐞 = 𝐍𝟏.𝟐𝟓. The new ‘Strategic Agenda for the Naira’ was announced by the Central Bank of Nigeria, generating a healthy national debate. Before we undertake a nationwide enlightenment program (beginning November 2) to educate the public on the new policy, it is important to clarify some of the issues/questions that are emerging. Needless to emphasize that to appreciate the full impact of the new policy on the Naira/national economy, we need to take the 4-point agenda as a package. As a package, the new agenda will: better anchor inflation expectations, strengthen public confidence in the Naira, make for easier conversion to other major currencies, reverse tendency for currency substitution, eliminate higher denomination notes with lower purchasing power, r...