Diversion of diaspora remittances to parallel market weakens naira, says CBN

has attributed the free fall of the naira against the dollar to the diversion of diaspora remittances to the parallel market.

“With those remittances, the dollars have come in, we know the dollars have come in but we don’t see them in the official system. So, they must be going somewhere and somewhere,” Shonubi said. “We can’t play the sentiment game. If we don’t understand the dynamics, we usually go with the literature which does not necessarily work for us.”

대한민국 최근 뉴스, 대한민국 헤드 라인