Twenty years ago, the value of the Nigerian Naira was N126 to $1. Today, it is trading at N1626 to $1. That is a depreciation of around 1200%. The Naira depreciated steadily over the last twenty years, but suddenly, the depreciation accelerated in early 2023. The exchange rate of the Naira and the US Dollar is shown in the diagram.This sudden fall in 2023 occurred when the Nigerian government relaxed longstanding foreign...