IMPLEMENTATION LEVEL
NationalAFFECTED FLOW
InflowANNOUNCED AS TEMPORARY
NoNON-TRADE-RELATED RATIONALE
NoELIGIBLE FIRMS
allJUMBO
NoTARIFF PEAK
NoCompetitive devaluation
According to numerous and consistent press reports, the Central Bank of Nigeria has deliberately devalued the local currency at the end of 2008. Professor Chukwuma Soluda, Governor of the Central Bank, said the move was designed to stop the decline in fiscal revenues as a result offalling oil prices.