My position is this: Devaluation should not happen. This dilly-dallying is only dragging further a situation that is solely the speculators’ gain. We should take a free float approach and make an open-ended market if we plan to abandon the current uncertainty, which is clearly disastrous for growth and the ordinary citizen
The Morning after Devaluation
Oluseun Onigbinde
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This is contradictory. Devaluation means to depreciate the naira. Free floating will also lead to an immediate depreciation of the currency (current demand for dollar outweighs its supply).