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ITC commends Africa on AfCFTA initiative

African continental free trade agreement: Matters arising

PRESIDENT Muhammadu Buhari’s endorsement, of the document establishing the AfCFTA, at the 17th Extraordinary Session of the Assembly of African Union Heads of government in Niamey, Niger Republic, last week, (July 2019), suggests that 53 countries are now party to the same AfCFTA, which Nigeria, unexpectedly, refused to sign, even after 44 other countries had endorsed the treaty in a similar convention in South Africa in March 2018.

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Free-floating the naira is disobeying the law – CBN

THE title above is from Tuesday, June 11 edition of the Daily Independent Newspaper. In the related report, CBN Governor, Godwin Emefiele, engaged stakeholders, at an interactive session in Lagos, on why he has rebuffed the incessant calls by some ‘experts’ to deregulate and float the naira exchange rate, as a product of  the actual market dynamics of demand and supply.

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AFRICA LEADERS

Collegiate Presidency and national harmony

THE calls for restructuring of the national space have become unceasing in recent years. Therefore, the narrative below has certainly become increasingly relevant this year and may hopefully serve as a wake-up call to abort inevitable the dire consequences which will clearly jeopardize our relationship as a nation and forestall the frustration of the misplaced hope of Nigerians for a better life. I wish you Happy 2019 Democracy Day! Please read on.

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Naira, CBN, PDP, FAAC, assets

The inevitable choice between N10,000 note and redenomination

NIGERIA’s Currency   profile has, notably failed to serve the needs of our people and our economy. Arguably, lower denominations of primary kobo coins and low value notes have been largely rejected because of their extremely negligible purchasing power. Overtime, the Naira Currency has lost significant value, as the highest existing compact denomination of N20 (the popular Muri) in 1977 was equivalent to over $20.

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CBN

Polymer Currency: Waste, Deceit & Commonsense

IN April 2019, CBN made good it’s over a year old promise, to tackle the acute shortage of lower Naira denominations by flooding the market with fresh supplies of N50, N20, N10, N5 Polymer denominations, to facilitate settlements and restrain compelled higher off-the-shelf prices in millions of retail outlets, nationwide. It is not clear, if the N100 paper denomination, which is alleged to bear an offensive religious symbol, was included in the fresh currency profile.

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