Why is the naira falling?

Posted by Segun on December 17, 2008 at 04:28:17:

I know crude oil prices are falling and there is a global economic instability but why has the naira continued to fall against the dollar and particularly in this season of chrsitmas?

Posted by Bimpe on December 17, 2008 at 07:27:08:
In Reply to: Why is the naira falling? posted by Segun on December 17, 2008 at 04:28:17:

It was deliberate. Soludao has said so and that govt did it in order to make up for the fall of crude oil prices. I guess they are planning to withdraw some fund from the foreign reserve which in dollars

Posted by Chris Ochuko on January 29, 2009 at 07:01:36:
In Reply to: Why is the naira falling? posted by Segun on December 17, 2008 at 04:28:17:

because it is not strong enough. We've been overpampering the naira. We really need to diversify our revenue sources now more than ever away from oil

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