GOVERNMENT IS NIGERIA’S BIGGEST ECONOMIC PROBLEM - KINGSLEY MOGHALU

Shortly after the #MonetaryPolicyCommittee of the #CentralBankofNigeria met last week, Dr. #KingsleyMoghalu, a former Deputy Governor of the #CBN, gave reasons for Nigeria’s foreign currency woes.
Moghalu, who was reacting to the CBN clamp down on a website, abokifx.com, said the most important determinant of the value of the naira is whether or not the economy is productive and competitive in international trade.
He however acknowledged that currency speculation affects the value of a nation’s currency.
According to him, there are currency traders around the world for whom the weakness of a currency is their very good fortune.
He said such traders attack such currencies for profit, especially where the currency is using a fixed, official exchange rate determined by the central bank instead of the market.
Moghalu who also spoke at a U.S-Nigeria Investment Forum in New York at the weekend said foreign direct investment can help lift the country out of poverty if it is targeted at the real economy.
According to the former central banker-turned-politician, Nigeria needs to adopt a strategy and incorporate political risk guarantees into major FDI agreements.
Dr. Kingsley Moghalu gives us more insight on the policies that should be adopted to improve foreign exchange accretion and capital importation into the #Nigerianeconomy.
#TheMorningShow #ReubenAbati #TundunAbiola #RufaiOseni #rotusoddiri #michaelwilson #adesuaomoruan
#nigeria #nigerians #dailynews #news #globalnews
#NIGERIANNEWS #TRENDING #trendingvideo #politics
Dr Moghalu, a former presidential candidate of the Young Progressive Party, is a lawyer, economist and academician.
Subscribe to our Channel for high profile interviews. Follow us on Twitter at / arisetv |
and Instagram: / arisenewsofficial |
and Facebook: / arisetvnews |
Check out our website www.arise.tv