By Olawale Asake
If Naira must be saved from imminent collapse, there is an urgent need for the Central Bank of Nigeria, CBN, and the Federal Government to rescue it from the hands of powerful operators making transactions of the Foreign Exchange in the Parallel Market.
A foremost Professor of Economics, Sam Olofin stated this while delivering a Public Lecture with the theme “Recent Developments in the Nigerian Foreign Exchange Market: Issues, Options and Way Forward” organized by the Nigerian Economic Society and held at the CBN Lecture Theatre, University of Ibadan, Oyo State.
Professor Olofin said, the Operators of the Foreign Exchange in the Parallel Market seemed so powerful that they were operating as visible hands, saying their motives of some of them were for selfish profit-making to the detriment of the Nation’s Economy.
Speaking, the Governor of the Central Bank of Nigeria, CBN, Dr Olayemi Cardoso who was represented by an Official, Department of Monetary Policy, CBN, Dr Usman Opanachi maintained that, the Apex Bank was doing everything possible to strengthen the Naira, emphasizing that the excess demand for forex in Nigeria is a legendary problem.
A Discussant, Special Adviser to the President on Economic Matters, Dr Tope Fasua appealed to Nigerians to be patient with the current administration and the gains ahead would be in the interest of all and sundry
Earlier, the President, the Nigerian Economic Society, Professor Adeola Adenikinju advised the Federal Government to consult with the Nation’s Economists on the challenges bedevilling the Economic Sector for better results.
Subscribe to our Telegram and YouTube Channels and also join our Whatsapp Update Group
pub-5160901092443552
Related Posts
