adminFEBRUARY 20, 2024
The massive naira devaluation caused by foreign exchange reforms has devastated households, factories and government coffers.
The Central Bank of Nigeria (CBN) allowed the naira to fall as much as 40% on 14 June 2023 two weeks after President Bola Tinubu took office and immediately announced the end of the subsidy on petrol that had been in place for years.
