Brother Bernard's tweet - "In 2021, CBN devalued the Naira from 379/$ to 411/$, later to 435/$ Guess what, black market just readjusted from 500/$ to about 800/$. Why? Problem is scarcity of dollars, not the rate. If you devalue to 1000/$ and maintain this draconian FX regime, black market will just… "

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Brother Bernard

@MikaelCBernard | 42,290 followers

In 2021, CBN devalued the Naira from 379/$ to 411/$, later to 435/$

Guess what, black market just readjusted from 500/$ to about 800/$.

Why?

Problem is scarcity of dollars, not the rate. If you devalue to 1000/$ and maintain this draconian FX regime, black market will just… https://t.co/0yMGtIDlap https://t.co/0aaLGMZvjP

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