Naira continues to struggle
By CNBC Africa
23 January 2017 |
1:07 pm
The Naira continues to struggle, declining by one naira on the black market over the weekend.
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The Naira redesign and the facing out of the old N200, N500, and N1,000 notes by the CBN has continued to cause an uproar among the citizens as no one are not able to assess the new notes. Just a few days ago, security agencies raided spots across the country to arrest those keeping the new notes.
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The Lagos Chamber of Commerce and Industry says the naira redesign policy is affecting operations of businesses in Nigeria, stressing that the chamber expects a smooth transition to the use of the new notes for business transactions.
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President Muhammadu Buhari on Sunday while away in Addis Ababa, Ethiopia, to participate in the 36th Ordinary Session of the Assembly of the African Union, told Nigerians to vote for his party's Presidential flag bearer in the next elections while he continues to work to ensure that Nigerians face less hardship due to the Naira policy.
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