Former education minister and vice president World Bank Africa, Dr. Obiageli Ezekwesili, has chided the Central Bank of Nigeria’s exchange rate policy for bringing untold hard on Nigerians, Daily Trust reports.
The charted accountant took to her twitter handle (@obyezeks) and wrote: “The CBN has lost the plot. This anachronistic exchange rate management is COSTING & digging Nigeria and Nigerians into a hole. #StopDigging!”
The senior economic advisor, Africa Economic Development Policy Initiative (AEDPI), had been very busy in the last week chastising the federal government and the Central Bank of Nigeria after the naira reached an all time peak of 280 per dollar in the parallel market.
She said: “The FG cannot be busy fighting corruption while the CBN is pursuing an Exchange Rate Management policy that is hugely rewarding corruption:” According Ezekwesili, it is the small and medium scale businesses that needed to be preserved in order to save jobs suffering from the current exchange regime.
She said: “CBN governor ought to know that his N197 to dollar is not actual rate. His is a rate producing arbitrage millionaires at the expense of the rest.” She argued that the Forex management lacked sense, advising the federal government to stop pretending that it was working.
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