Afrinvest forecasts Naira devaluation in Q2, 2020 - DAILY TRUST
The Group Managing Director of Afrinvest West Africa Limited, Mr. Ike Chioke, has predicted Naira devaluation in the second half of the year unless there is a drastic increase in oil prices.
Chioke made the projection in Lagos at the weekend during the launch of Afrinvest Economic and Financial Markets 2020 Outlook.
“Also with the slow accretion in terms of capital inflows into the economy doesn’t tell a good story for Nigeria and the economy.
“Looking forward into the rest of the year, there is a potential risk for us to see in increasing pressure around the currency and this is because of the negative current account balances we have sustained in the first three quarters of 2019 which is worrisome. We would probably begin to face this pressure towards the second half of 2020”, the researcher added.