Is our Money robbing from us?

Is our Money robbing from us?

$1.00 in 1940 had the same buying power as $16.89 in 2016. The first thing that might come to mind to help explain this is ‘’Inflation’’. Oh yes, lets always blame it on Inflation. But what is Inflation according to experts? Economists choose to explain ‘’inflation’’ as a sustained increase in the general price level of goods and services in an economy over a period of time resulting in a loss of value of the…

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The Naira is defenceless

The Naira is defenceless

The Africa Economist/Managing Director, Citi Bank, Mr. David Cowan has predicted a further devaluation of the naira, arguing that the value of the country’s external reserves is too low to sustain the defence of the currency. Specifically, Cowan said the Central Bank of Nigeria would once more devalue the naira towards the end of the year. He stated this yesterday at the EuroFinance conference in Lagos. Cowen said: “What the central bank is battling is…

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