• The Central Bank of Nigeria urges patience as it works to strengthen the Naira, addressing challenges in the foreign exchange market.
• Speaking at a public lecture organized by the Nigerian Economic Society, Dr. Usman Opanachi of the CBN highlights the significance of exchange rates and inflation.
• CBN emphasizes its adoption of market forces approach to determine the Naira’s price, acknowledging limitations of artificial control.
• Renowned economist Prof. Sam Olofin notes the dominance of parallel market forces and the difficulty for CBN to control foreign exchange.
•President of the Nigerian Economic Society, Prof. Adeola Adenikinju, stresses the importance of consulting economists on the weak economy and the impact of exchange rates on inflation.
•The Chairman of the event, Prof. Antonia Simbine, emphasizes the need for solutions to Nigeria’s challenges.
• The Vice Chancellor of the University of Ibadan, Prof. Kayode Adebowale, is represented at the event.
