Centre for the Promotion of Private Enterprise CEO Muda Yusuf has urged the Central Bank of Nigeria to unify the multiple foreign exchange windows to enhance its liquidity and curb inflation.
Mr Yusuf said the apex bank should have a convergence in the foreign exchange market.
“Having a convergence in the foreign exchange market is imperative to attract foreign capital and enhance adequate liquidity. Then the domestic currency will be more stable, and the foreign exchange demand triggering inflation will begin to dip,” he said.
He noted that the CBN could check the inflation rate by reducing its ways and means of economic interventions.
“We cannot expect to fight rising inflation and on the other hand expend trillions of naira in ways and means. The authorities must stop funding the fiscal deficit of the federal government through ways and means, if we are serious in checking the inflation rate,” the financial expert added.
Also, the former…