Quote from Ndubuisi Ekekwe on June 15, 2023, 5:19 PM

Monumental Shift in Nigeria - "After the decision to float the naira on Wednesday, the Central Bank of Nigeria (CBN) has released its operational guidelines for transactions in the FX market. The guidelines, which are directed towards authorized dealers and the general public, have officially abolished the contentious multiple exchange rate windows."

Your Nigerian net worth is possibly off by 20% but if this shifts the FX to a better equilibrium, it will be a net positive. From next month, if you secured a Naira bank loan with US dollars (in a dorm account) as a collateral, expect a call from your bank! You know what I mean.