The naira on Wednesday firmed against the dollar at the parallel market.

PRESIDENT Muhammadu Buhari said, Wednesday, in Paris, France, that he opposed a further weakening of the naira and openly endorsed the Central Bank of Nigeria, CBN’s policy of restricting foreign-exchange trading.

n recognition of the impact of the naira depreciation of the affordability of its fees for Nigerian students, Global accounting body, Association of Certified and Chartered Accountants (ACCA) has announced 60 percent reduction in registration fees for Nigerian students.

I HAVE always believed that for us to move forward, we must reduce our challenges to simple terminology; the simpler the analysis, the easier to carry the masses along. Unfortunately, our experts are all grounded in the Bretton Wood ideology: the more we try to understand, the more complex the solutions. For example, why can’t we bring the naira at par with the United States dollar? Some might say it is not possible given the present day circumstances, but if we remember correctly in 1978, the dollar was even less than the naira at 65 kobo to one dollar.

Nigerians generally believe that large foreign reserves are useful for defending the exchange rate of the naira. However, our total foreign reserves actually comprise of two primary income streams; the first is the Excess Crude Account (ECA), which consists of all crude oil revenue in excess of budget estimates