Posted By: | November 26, 2020 |

Anti-Dollarization Policy: Managing Reality – Issues and Discontents

The Central Bank of Nigeria (CBN) in its effort to stave off pressure on the Nigerian currency had drawn the public's attention to its Currency Substitution and Dollarization of the Nigerian Currency Circular issued on 17th day April 2015 (“the Circular”). The Circular essentially leveraged existing legislative provisions to reiterate the bar against denomination and pricing of local (visible and invisible) transactions in any foreign currency.

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