Ditch the NAIRA and Champion the ECO? A Post-Forex Crisis Assessment

Keleenna Onyeaka (), Ikechi Agbugba () and Chimere Iheonu ()
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Keleenna Onyeaka: London School of Economics and Political Science, London
Ikechi Agbugba: Department Of Agricultural and Applied Economics, Rivers State University, Port Harcourt, Nigeria.

Journal of Economic and Sustainable Growth 3, vol. 1

Abstract: The 2014-2017 forex crisis in Nigeria highlights two significant drawbacks of oil dependency in the country. the first being the challenge monetary policy in Nigeria faces in facilitating both stability and economic growth. The second drawback is the inability of the countries exchange rate regime to cope with shocks to the oil-dependent economy.

Keywords: CBN; ECOWAS; Forex; Nigeria; OCA; WAMZ (search for similar items in EconPapers)
JEL-codes: R10 (search for similar items in EconPapers)
Date: 2018-06
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