BUHARI NOT HAPPY WITH IMF'S SUGGESTION OF DEVALUATION OF NAIRA

photo source: naijabigtime.com



photo source: esacademic.com

  The International Monetary Fund(IMF), had suggested that the Central Bank of Nigeria (CBN) needs to devalue the Naira by just adjusting the official exchange rate which is N 199 to 1 Dollar to a more market-determined exchange rate.
 Meanwhile the President of Nigeria, Muhammadu Buhari is against the the plan of the devaluation of Naira.
 Chief Emeka Anyaoku, the former Secretary-General of Commonwealth of Nations has added that the devaluation of Naira could cause an economic disaster for the country.