• Forex policy: CBN Governor, Emefiele reacts to Sanusi’s criticism

    Forex policy: CBN Governor, Emefiele reacts to Sanusi’s criticism

    Central Bank of Nigeria, CBN, Governor, Godwin Emefiele, has reacted to commens on foreign exchange policies by the Emir of Kano, Sanusi Lamido Sanusi.

    Sanusi, a former CBN Governor, had at the 15th Joint National Council on Development Planing meeting in Kano, criticized President Muhammadu Buhari’s endorsement of CBN’s foreign exchange policies, adding that it encourage corruption.

    Speaking at the National Institute for Policy and Strategy Studies (NIPSS), shortly after he delivered a lecture titled “Managing Monetary Policy in Turbulent Time,” the […]

  • Your forex policy is distorting the economy, IMF tells Pres. Buhari

    Your forex policy is distorting the economy, IMF tells Pres. Buhari

    The International Monetary Fund, IMF, has expressed delight with the “progress” made by President Muhammadu Buhari in fighting corruption and insurgency, but regretted that the foreign exchange, forex, policy of his administration was significantly distorting and slowing down economic activity.

    It noted that while the forex restrictions have protected certain sectors of the economy, many other sectors are cutting production and sacking workers which have ultimately resulted in reduced investment and consumption.

    The global institution also observed that the President’s delay in […]