Nigeria’s Floating Exchange Rate Regime – Potential Tax Implications & Management Strategies For Businesses

Over time, the Central Bank of Nigeria (CBN) has adopted different exchange rate systems, such as controlled, floating, and managed float, alongside intermittent interventions, all aimed at achieving extended market stability. The controlled exchange rate system is that in which the central bank determines a fixed exchange rate, while floating exchange rate system allows the determination of the rate by market forces. Meanwhile, the managed float exchange rate system allows the influence of demand and supply to determine the exchange rate but also allows occasional involvement by the central bank to manage persistent fluctuations.

Access To The Internet Be Designated A Fundamental Human Right

The UN noted that access to the internet needed to be anchored in a human rights-based approach, and that the internet should be open, accessible, and nurtured by multi-stakeholder participation. In this regard, it is safe to say that the UN’s action in ensuring that access to the internet right is a fundamental human right is hinged on several factors anchored on several other rights. This was shown in the recent wave of demonstrations and protests across west, central and northern Africa. The Black Lives Movement, #EndSars movement, elections in Brazil, Kenya, Nigeria, and Lesotho which were greatly influenced by social media and the internet, demonstrate the need to facilitate access to the internet for all persons.