PRESIDENTIAL candidate of the Young Progressives Party (YPP) in the last election, Prof Kingsley Moghalu has commended the Central Bank of Nigeria (CBN) for the unification of the nation’s multiple exchange rates.
Moghalu, a professor of International Business and Public Policy at the Tufts University Fletcher School of Law and Diplomacy made the remarks in his social media handle earlier in the week.
“Glad Central Bank of Nigeria (CBN) has decided to unify Nigeria’s multiple exchange rates. It’s the sensible thing to do for the economy and I hope the Bank follows through on its policy signal. The cost of differential exchange rates was high-corrupt arbitrage, lack of investor confidence, etc.”, he stated.