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Naira may be weakened this week-by Blessing Nwafor

Naira May be weakened this week.


               The central bank of Nigeria may introduce a dual exchange - rate system and weaken the naira when it unveils a new policy as soon as this week.
        According to a meeting between the governor, Godwin Emefiele and bankers, the regulator will probably make an announcement in a circular to banks , said Emefiele.
        Those at Renaissance capital Ltd, said they expect the central bank to allow the naira to weaken around a trading band in the interbank market while allocating dollars at a fixed rate to industries, the government deems strategic.
         The central bank is still working out details of the system and may reinstate a minimum holding period for foreign investors, buying naira bonds.
      This is the outcome of the meeting. With this I am now asking, how will this economy look like in years to come. This is reason why it is advisable now and wise for every student to be an entrepreneur and also be hard working.
          NWAFOR BLESSING

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