Central Bank of Nigeria (CBN) may devalue the naira further
if it is found to be in the nation’s interest, saying hard choices would be
made next year.
The Director, Monetary Policy Department, Mr.
Moses Tule, disclosed this to reporters in Abuja He said the restriction on
foreign exchange may continue until the country has built its reserves to over
$50 billion.He said analysis in newspapers and other media platforms cannot push the CBN into devaluing the currency, but the CBN would take the right decisions on the naira.
“No matter how good a professor of war studies is, he cannot tell a general how to conduct and deploy his men.
“The general is the man on the field, he is where the battle is, he has his maps and strategy for the battle that will give him victory no matter how knowledgeable the professor is, he cannot advise him in the battlefront,” he said.
-Sun News
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