Former CBN Deputy Governor: Naira at N400 to Dollar is Unrealistic, Says Moghalu
Kingsley Moghalu, former deputy governor of the Central Bank of Nigeria, dismissed the idea of the Naira being valued at N400 to the Dollar as unrealistic. He argued that the exchange rate should reflect the actual market value.
Moghalu criticized the artificial measures implemented during Godwin Emefiele’s tenure at the Central Bank, which he believed benefited political interests rather than the economy.
He highlighted the need for Nigeria to prioritize creating a strong manufacturing sector to boost exports and earn foreign exchange beyond oil revenues.
Moghalu also emphasized the importance of addressing the country’s electricity challenges to unleash its entrepreneurial potential.