Page 179 - தேசிய பணியகம் ஆஃப் புள்ளிவிவரங்கள் News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Naira devaluation, another journey into economic wilderness The Punch Published 12 July 2021 The naira was devalued some six weeks ago and instantly, the effects started showing in the rising cost of local and foreign goods in the Nigerian markets. The Governor of the Central Bank of Nigeria, Godwin Emefiele, has again hinted of another devaluation very soon by stating that the naira is overvalued. One of the primary objectives of the CBN is to protect the value of the domestic currency and devaluation is definitely one of the ways of destroying the value of the currency. The condition for devaluation of a currency did not exist at the time the currency was devalued in May this year. In fact, the condition that would make devaluation work in favour of a country was and does not exist in the Nigerian case in recent time. All the recent devaluation has been for political convenience rather than economic salvation. Thus, a check on all devaluations shows that economi

Sheriffdeen tellaGodwin emefieleInternational monetary fundNational bureau of statisticsGovernor of the central bankCentral bankGross domestic productNational bureauProfessor bade onimodeசர்வதேச பண நிதிதேசிய பணியகம் ஆஃப் புள்ளிவிவரங்கள்கவர்னர் ஆஃப் தி மைய வங்கிமைய வங்கிமொத்த உள்நாட்டு ப்ராடக்ட்தேசிய பணியகம்