Former governor of Central Bank of Nigeria and Emir of Kano, Sanusi Lamido Sanusi, has slam the administration of President Buhari’s naira policy. The respected norther monarch Sanusi speaking with Financial Times says:
” the government should end its policy of trying to maintain the value of the currency, the naira. Mr Sanusi said the drawbacks of the policy “far outweigh its dubious benefits”
Nigeria president Muhammadu Buhari, speaking with BBC last week, says that he was convinced of the need to “murder” the naira.
However, the falling of oil prize in international market has put tremendous pressure on the currency policy of Buhari’s administration. Though, the government authorities are keeping the offical naira exchange rate to dollar at 200 naira, while its sells for 300 or sometimes more than that.