A financial expert, Mr Okey Ezeh, has urged the Federal Government to sustain the foreign exchange policy that resulted in the appreciation of the naira.
Ezeh, who is the Managing Director of Savvycorp Ltd, a Financial Consulting firm, told the News Agency of Nigeria (NAN) in Awka on Monday that the appreciation of the naira was good for the ailing economy.
NAN reports that the Naira last week exchanged at N460 to a dollar at the parallel market, gaining 40 points from N500 it recorded earlier.
The Pound Sterling and the Euro traded at N575 and N480.
The financial expert said dollar rate could further decline if CBN policy that empowered commercial banks to sell dollar and other enabling measures were taken and sustained.
“There has been serious appreciation in the last 72 hours and this is what we have been clamouring for.
“It will be a great relief to the economy, commodity prices and the welfare of the masses who are suffering because of the Forex induced inflation in Nigeria,” he said.
Ezeh, who is also a chieftain of the All Progressives Grand Alliance (APGA), said there was need for strong institutions to enable the system to function effectively in the absence of the principals.
“We want to reclaim our economy; we want jobs and we want a planned future; we want things to get back on track,” he said. (NAN)
