THE WILL NEWS
The Governor, Central Bank of Nigeria, CBN, Dr Olayemi Cardoso, has, again, stated that the naira is undervalued.
Dr Cardoso reiterated this position in an interview with Arise News Television Monday, stating that foreign investors are still interested in the Nigerian economy/ notwithstanding the state of the embattled local currency.
He, however, failed to state specifically what should be the real value of the local currency, noting, instead, that the volatility in the forex market makes it difficult to observe the fact the naira is undervalued.
“I think that given the relatively challenging times that Nigeria is in now, from a financial and economic standpoint, the different stakeholders within the government understand that collaboration is key. We hold regular meetings, we exchange different ideas, to ensure we are all heading towards the same direction.
“I think we should expect to see that we are working on the talk.
“The foreign investors come, they go; they come back the second time, they see the report of the rating agencies on how the economy is progressing; it validates what they are thinking. They see the economy progressing, with additional reforms, it continues to encourage them.That is how I see investors play today.”
