Economy and Politics: Why Nigeria Should Adopt A Market-Determined FX Regime
This edition of the "Economy and Politics" show features Dr. Muda Yusuf an economist and former Director-General, Lagos Chamber of Commerce and Industry, LCCI as he speaks on "FX Management & Nigeria's Economic Stability".
According to him, the market-determined FX regime is more sustainable, transparent, predictable, and better even for the sentiments of investors. He argued that this was far better than the fixed FX management of administrative allocation and over-concentration on demand management.
Speaking further he believed that the Central Bank of Nigeria should liberalize the FX market, and allow the BDCs to source independently for their FX. The BDCs he stressed can access it through foreign direct investments coming from the diaspora, portfolio investors, and key multinationals investing in the country.