Andrew Neven, a Partner and Chief Economist at PWC Nigeria, reacted that the CBN’s new rule for Banks to operate at any exchange rate could be detrimental to Nigeria’s economy. He emphasised the importance of a Unified Exchange Rate, which will encourage foreign investors into Nigeria’s economy.
During the Arise TV Newsday programme in Abuja, Andrew Neven expressed that nobody will invest in Nigeria as long as we don’t have a unified exchange rate. We will continue to have insufficient investment & growth and consequently remain poor. This move by President Tinubu is a necessary step toward economic recovery in Nigeria.
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