“It Is Important”: Moghalu Reveals Steps To Save Naira as One Dollar Sells Above N1,300

The former Deputy Governor of the Central Bank of Nigeria (CBN),Kingsley Moghalu has identified how naira can recover.NYSC  Portal

According to LEGIT.NG, Moghalu revealed that  the only way to fix the naira is for the Nigerian economy to become productive and export-driven

Moghalu disclosed his known while speaking at the 29th edition of the annual Nigerian Economic Summit in Abuja on Tuesday, October 24, 2023.JAMB Result

LEGIT.NG reports that he said: “The way to fix the naira has problems is a combination of things. Some of them are short-term, but let me start with the long-term because we’ve been trying to fix the problem of the naira for a long, long time. It’s just been getting worse.”

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“The only way you can fix the naira is that the Nigerian economy needs to become a productive export-driven economy.”

He further, “I can’t say this enough and I’m not the only one who’s saying it. But up till today, we have not seen a comprehensive plan with targets to achieve this.JAMB Portal

“And even when plans are made, they are not always as informed as they should be. But I don’t know if you heard the President today because I heard him talking about clearing the backlog and doing all of this.InformationGuideNigeria

“You see. I mean, it’s important to clear those battles because one of the problems and a major problem that is affecting the naira is confidence.”

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