“Again, suggesting that the CBN should discontinue its forex demand management strategy to the effect that certain items are excluded from accessing the official window has grave implications for exchange rate and the economy. If anything, it negates the import substitution drive of the present administration.
“We have not been exporting much, the only thing we export is oil. Even the volume of oil production and oil export has gone down in recent times. Without an enormous export profile, you may not have currency appreciation. “If you look at how Africa supplies the rest of the world, you have to look at the international dimensions. Unfortunately, our leaders do not have the strategic intelligence to engage with the rest of the world.”
“The VP is saying the truth because if we devalue the naira to its actual value, then the margins that the Bureau de Change relies on will no longer be there.
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