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CBN Devalues Naira
Business and Economy

CBN Devalues Naira

by  Khadijah Thabit 1 min read

The Central Bank of Nigeria (CBN) has today, November 25, announced the devaluation of the naira, with the new exchange officially at N168 to a dollar, and no longer N155.

The CBN officials explained that the move to lower the value of the naira against the dollar was aimed at strengthening the currency in the course of the dwindling oil price.

CBN governor Godwin Emefiele also urged the government to speed up the process towards the immediate passage of the Petroleum Industry Bill (PIB) pending passage for the past two years.

Details on Premium Times.

Source: Legit.ng

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Khadijah Thabit avatar

Khadijah Thabit (Copyeditor) Khadijah Thabit is an editor with over 3 years of experience editing and managing contents such as articles, blogs, newsletters and social leads. She has a BA in English and Literary Studies from the University of Ibadan, Nigeria. Khadijah joined Legit.ng in September 2020 as a copyeditor and proofreader for the Human Interest, Current Affairs, Business, Sports and PR desks. As a grammar police, she develops her skills by reading novels and dictionaries. Email: khadeeejathabit@gmail.com

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