…Tasks new CBN governor on strategy to address exchange rate
United States Deputy Secretary of Treasury, Wally Adeyemo, has disclosed that the international bodies/partners were ready to help Nigeria towards addressing the exchange rate.
Adeyemo disclosed this at a media parley in Lagos on Tuesday, while on a visit to Nigeria to highlight the economic and cultural ties between the two countries. This comes as he expressed hope in the appointment of the new governor of the Central Bank of Nigeria (CBN), urging him to come up with a clear strategy towards addressing the exchange rate.
Recall that President Bola Tinubu had last Friday appointed Cardoso as the new Governor of the CBN and replaced the deputy governors.
The Treasury Secretary said, “The appointment of new Central Bank government gives Nigeria the opportunities and lay out a clear strategy for what they want to do in terms of the exchange rate; but, in addition to thinking about what they do in terms of assets management, it needs to be clear what the monetary policy wishes will look like”.
He further said that some American companies in Nigeria would like to invest more, and called on the Nigerian government to address corruption and fraud, adding that there was need for a macro-economic framework that will ultimately stand the test of time addressing this major challenge in the Nigerian economy.
