CBN should determine where they want the naira to be and work towards it. Any exchange rate can be achieved by monetary policies which are indirect manipulations. I think we should peg it at N100 to the dollar. We should not go down and let it float between 98 and N102. You cannot get a foreign investment in an unstable currency because an investor wants to make calculations on where he is going with one assurance that money brought in can be taken out.
Devaluation is a vicious cycle with evil consequences.
You cannot be devaluating all the time. I don't think so. I don't think it is true. The time the World Bank was dictating to Nigeria is over. It is just as a result of government's lack of control over the naira and the way they are pouring it into the system.