Naira’s exchange rate despite being of huge interest to Nigerians is not the only indicator of the state of the country’s economy. Focus, instead, should be on what steps the country is taking to achieve sweeping economic reforms, fuel productivity, innovation, and exports, that can pave the way for Nigeria’s enduring economic vitality.

Despite its intentions, CBN’s monetary policies—under Godwin Emefiele—of changing the currency, introducing cash withdrawal limits and transitioning to a cashless system caused hardship for Nigerians. While the pain and suffering this policy caused have drastically reduced, its effect is yet to be fully recognized.