DOLLAR A DETERMINANT OF NIGERIAN ECONOMY

DOLLAR A DETERMINANT OF NIGERIAN ECONOMY

u.s dollar drive away Nigerian Naira

The Nigerian currency (Naira) as lost it intrinsic and face value to United State of American dollar. International trade gives ample room to international foreign exchange rate but i doubt if the central bank of Nigerian are considering that international policy or the CBN is speculating blindly.

The classical and neo-classical economist in their text called economics thought, analyse how trade by barter works in aspect of comparative advantage our currency in Nigeria, but the tendency of dollar is driven away Naira to exile. DOLLAR A DETERMINANT OF NIGERIA ECONOMY

The macro-economist policy introduced by the central bank of Nigeria governor is not in conformity with the mixed economy the country is practising. The sudden rise in U.S dollars as halt Nigeria business environment, many trader where forced to closed down business.

The central bank of Nigeria said the reduction of dollars in circulation was to curb corruption at a glance , the asking prize of dollar from CBN was #300 to $1 U.S dollar, in black market it was sold at #500 to $1 U.S dollar. so central bank of Nigeria Governor need to be summon for questioning.
DOLLAR A DETERMINANT OF NIGERIAN ECONOMY