In Nigeria, the Central Bank adopted a unified exchange rate for currencies, especially the dollar, in order to stabilize the local currency (the naira), which had been depressive for several years.

According to the CBN, the naira, the issuing institute emphasizes, will now face market supply and demand instead of being fixed to currencies. Since the announcement of this measure, the local currency naira has fallen by 40% against the greenback. The exchange rate fell from 460 naira (0.99 USD) to 660 naira (1.42 USD) per dollar, compared to

Long recommended by the International Monetary Fund (IMF) and the World Bank, this revision of the exchange rate regime comes a few days after the suspension and then the arrest of the former director of the CBN, Godwin Emefiele, who was under investigation. This situation is a blow to the macroeconomic balance of the country, which derives most of its income from the export of crude oil, from which it is the largest producer in Africa (according to the latest monthly ranking of the Organization of Petroleum Exporting Countries, OPEC