Nigeria liberalises exchange rate

Naira falls sharply as country leaves Emefiele era behind

Nigerian naira

The Nigerian central bank ended a regime of regulated exchange rates on June 14, prompting a rapid devaluation of the currency. The new policy responds to president Bola Tinubu’s call for exchange rate liberalisation in his May 29 inaugural address.

It also came less than a week after Tinubu suspended central bank governor Godwin Emefiele from office. Emefiele, who had been governor since 2014, was closely associated with the elaborate fixed-rate regime, which was part of a wider industrial

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

This address will be used to create your account

Most read articles loading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account

.