Unlocking the Naira's Potential

Why a Paradigm Shift in Currency Management is the Key to Nigeria's Prosperity

“Thus, it is ironical that the CBN which instigates a market disequilibrium in favour of the dollar when it substitutes fresh Naira values for dollar denominated revenue, should later turn round, in seeming defence of the Naira exchange rate, to auction small rations of dollars in the same market, which the same CBN, had earlier inundated with excess Naira supply; unfortunately such a market imbalance will invariably always precipitate weaker Naira exchange rates, which will invariably increase fuel price, regardless of crude price and output.” - Sir Henry Boyo

(Source: https://www.tradingview.com/symbols/NGNUSD/)

The Nigerian Naira, once a symbol of national pride, has in recent years become synonymous with instability, inflation, and economic hardship. Every trip to the market feels like a gamble, every business venture a dance with uncertainty. But what if there was a simple yet powerful solution to this complex problem? Renowned economist and industrialist, the Late Sir Henry Boyo p…