Nigeria’s central bank has begun the journey from multiple official and unofficial exchange rates to a single unified value. It’s a radical departure that the IMF and investors have long advocated.
But how much difference will a unified rate make to foreign investment, international trade and borrowing costs? And how much further does the official rate need to fall to match the unofficial level?
Watch our webinar below for a captivating conversation with our panel of experts:
His Highness Muhammad Sanusi II, 14th Emir of Kano & former Governor of the Nigerian Central Bank
Temitope Popoola, CEO, Renaissance Capital
Nkemdilim Nwadialor, Equity Research Analyst, Tellimer
Oghenefejiro Eduviere, FX Trader, AZA
What does the CBN’s unification policy entail currently? [03:45]
What is going on with unification from a market side? [06:27]
Why isn’t the Central Bank giving more clarity about the unification policy? [11:38]
What have we seen so far and how is it being perceived by the market? [17:44]
Is the CBN heading in the right direction? [20:21]
What is the upside of unification? [34:28]
Is this the right time to be having the conversation regarding unification considering we are in the middle of a pandemic? [39:40]
What will happen next in terms of the market rates? [42:48]
Will unification be the catalyst that can spur domestic production? What should the CBN be doing right now? [47:18]
Is there a chance that the Naira will regain lost value to 360 per dollar in the future? [51:39]
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