NAIRA UNDER PRESSURE AS MEDICAL TOURISM, FOREIGN EDUCATION RISE ■ Nigerians’ growing demand for foreign exchange for health and education purposes abroad is putting pressure on the naira at both the foreign exchange market and interbank offered rate (NIBOR) BusinessDay investigations have revealed. The high demand for foreign exchange at the bi-monthly Wholesale Dutch Auction System (WDAS), under the invisible sector is putting pressure on the Central Bank of Nigeria (CBN) to continue to defend the naira. The 2013 budget allocation to both the health and education sectors at 12 percent is regarded by analysts as inadequate to check foreign travels for these services.
Posted on: Thu, 06 Jun 2013 05:10:11 +0000
Trending Topics
Recently Viewed Topics
© 2015