Nobel laureate Wole Soyinka has said Nigeria is pretending not to know that it is at war. In a statement on Saturday titled ‘The Endless Martyrdom of Youth’, Soyinka said the country is on the brink unless an urgent action is taken. Soyinka’s statement came following the killing of three kidnapped students of Greenfield University by bandits in Kaduna and rising insecurity and violence across swathes of the nation. Soyinka, who said the nation is on the brink of chaos due to the unending bloodshed across the country, urged the nation’s leadership to seek assistance in the face of its…

Nigerians have been accumulating foreign currencies to protect their wealth from naira volatility and surging inflation, according to a research paper in a journal published by the Central Bank of Nigeria. “Higher real-exchange rate volatility is associated with an increased level of currency substitution,” central bank economists including Isaiah Ajibola, Sylvanus Udoette, Rabia Muhammad and John Anigwe said in the paper available on the central bank’s website. There is a need to contain “exchange-rate volatility and inflation as a way of curbing the spate of currency substitution in the country,” they said. One measure of currency substitution, the ratio of…