A Nigerian economist, Ifediora Amobi, has urged the Central Bank of Nigeria (CBN) to be careful as it carries out its reforms to avoid discouraging both local and foreign investors, News About Nigeria reports.
He stated this while speaking in an interview on Arise Television on Monday.
According to him, CBN is trying to do a lot, but they have to be careful that they don’t discourage the country’s most needed exporters in the process, as well as investors outside Nigeria who want to come in and invest and do business in the country.
He noted that the guidelines that have been put in place by the Central Bank are helpful as they will bring in more foreign exchange.
However, he warned that the CBN needs to exercise caution so that they don’t outright discourage those who had originally intended to bring their funds into the country.
The Nigerian Economist stated that the monetary policy reforms that are being implemented by the Central Bank of Nigeria are necessary for a better economy, adding that if the CBN continues the way it is going, Nigeria will experience a brighter economy by the end of 2024.
Amobi, while maintaining that the reforms of the CBN are not a one-off policy, stated that it is the start of what will be a continuous process of sanitising the foreign exchange market, adding that if this momentum is sustained and more guidelines and circulars are taken over, they will be able to do more than just going after deposit money banks.
