“The exchange rate is artificially Low’ — Osinbajo asks CBN to devalue Naira
Vice President, Professor Yemi Osinbajo has called on the Central Bank of Nigeria to devalue the naira in order to reflect the reality of the market.
He stated this on Monday while speaking at the midterm retreat of President Muhammadu Buhari’s second tenure.
Osinbajo said the exchange rate is artificially low, and this is deterring investors from bringing foreign exchange into the country.
“As for the exchange rate, I think we need to move our rates to [be] as reflective of the market as possible. This, in my own respective view, is the only way to improve supply,” Osinbajo said.
“We can’t get new dollars into the system, where the exchange rate is artificially low. And everyone knows by how much our reserves can grow. I’m convinced that the demand management strategy currently being adopted by the CBN needs a rethink, and that is just my view.
“Anyway, all those are issues that when the CBN governor has time to address, he will be able to address in full.”
So, he doesn’t have time to address such then what is he doing in the office
See this man, then what is his work in that office if he couldn’t address that
You people are the one driving the investor away
You are also among because you are the head of the economic team of president Muhammad buhari administration
that is too bad for this country……. you should do something cuz our money is moving backwards so is our economy…..