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NESG Expresses Concern Over Naira Devaluation #NESG

The Chief Executive Officer (CEO), Nigeria Economic Summit Group (NESG), Laoye Jaiyeola, has expressed concern over the dwindling value of the naira, saying the local currency is no longer a store of value. He said the moment one invests the naira, it loses its value, stating that the naira at this point will not guarantee true value. Jaiyeola spoke yesterday in Abuja at the launch of the NESG 2022 Macroeconomic Outlook Report. He gave the example of investing in Treasury Bills, saying with inflation currently at over 15 percent, the moment any investor buys Treasury Bills, inflation and other factors will wipe away the expected profit or interest from the investment.

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