Nigeria

Nigeria: Another meaningless naira devaluation

  • The CBN has reportedly devalued the official exchange rate, but this could be another false alarm

  • While marginally positive, the naira remains overvalued and the deval will have little impact even if reports are true

  • Exchange rate flexibility is required to restore balance to Nigeria’s FX market, which we continue to see as unlikely

https://cdn.tellimer.com/providers/tellimer-avatarpng.png
Subscribe to read this report

You can read this report by subscribing to a Starter or Pro plan today.

Already have an account? Log in

Disclosures

This report is independent investment research as contemplated by COBS 12.2 of the FCA Handbook and is a research recommendation under COBS 12.4 of the FCA Handbook. Where it is not technically a research recommendation because the subject of the research is not listed on any European exchange, it has nevertheless been treated as a research recommendation to ensure consistent treatment of all Tellimer's research. This report has been produced by the analyst(s) named above (the "Analyst").

The Analyst certifies that the views and forecasts expressed in this report accurately reflect their personal views about the subject, securities, or issuers specified herein. In addition, the Analyst certifies that no part of their compensation was, is, or will be directly or indirectly related to the specific recommendations or views expressed in this report.

Research ratings explanation and full Tellimer disclaimers