The Economic Intelligence Unit (EIU) has cast doubts on the Central Bank of Nigeria's capacity to prevent the continuous depreciation of its local currency, the naira.

According to EIU, the persistent weakness of the naira is anticipated to lead to unpredictable regulation, mainly impacting enterprises dealing in foreign exchange.

This scepticism by the EIU sheds light on the broader economic challenges facing Nigeria, specifically in terms of currency stability and regulatory consistency.

The assessment by the EIU signals potential hurdles for the Nigerian economy, particularly for businesses that are intertwined with the global market through foreign exchange.

This scenario suggests a pressing need for reforms and a more robust economic strategy to shield the economy and stabilise the naira.