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Nigeria has successfully introduced new banknotes on about 10 occasions since independence in 1960. So why has the latest attempt been so controversial and traumatic? And what measures need to be taken to avoid a future debacle?
Nigeria’s central bank …
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The Central Bank of Nigeria recently announced an increase in the interest rate, from 11.5% to 13%, a 1.5 percentage point hike that took effect immediately.
Whenever the Central Bank changes the monetary policy rate, otherwise known as the discount …
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Over a year ago, Nigeria’s President Muhammadu Buhari launched an economic plan designed to mitigate the impact of the COVID-19 pandemic.
Since the outbreak of the pandemic, Nigeria has recorded 207,618 cases of infection and 2,745 deaths as of October …
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About two months ago, the Nigerian government announced the closure of the country’s land borders to all goods. According to the country’s Comptroller-General of the Customs Service, Hameed Ali, this was done to stem the influx of smuggled goods, especially …
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