Anything that happens economically, happens because there must something responsible for such thing to happen. The inflation that we are experiencing at the money is due to a lot of factors;it could be maybe due to war or any other means. In the past couple of years, naira value is nothing good to write home about and there are lot of reasons why the value of naira is diminishing.
Naira and it value...
A lot factors are responsible for the diminishing in value of naira. The first reason that I feel is causing the devaluation of naira is, hoarding. According to the CBN,, they said enough money were printed but almost more than %60 of the printed money are not circulation. People are hoarding the printed cash which were being hidden in an abandoned buildings.
Hoarding is one of the major reasons why naira is devaluation. One can imagine to realize that ,%60 of most of the printed naira note that are suppose to be in circulation are being hoarding this really devaluate naira note because enough money are not going into circulation. There is no way naira don't devaluate with most of the money are not in circulation.
Please note that, this isn't a cryptocurrency, financial or business advice,it's just an opinion. If you need a cryptocurrency, financial or business advice, consult a cryptocurrency or financial experts. Thank you.
