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Business News of Thursday, 23 September 2021


Naira’s slide against dollar unacceptable – PGF chief

Dr. Salihu Lukman Dr. Salihu Lukman

The Director-General of the Progressives Governors’ Forum, Dr. Salihu Lukman, on Wednesday, decried the poor state of Naira.

In a paper titled: “Nigeria’s Debt and Struggle for New Nigeria,” released in Abuja, Lukman urged the Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, to save the Naira from a further slide.

He added that the currency slide against the United States’ dollar was no longer acceptable.

The PGF chief knocked the Peoples Democratic Party (PDP) leaders over their unfair criticism of the Federal Government.

He also expressed concern over the laid-back attitude of some federal government’s appointees towards public debates on the issues affecting the country.

Lukman said: “One of the issues that need to also be appreciated is that to some extent, the confidence of PDP leaders tends to be high in engaging debates around the performance of the economy because of the laid-back attitude of some appointees of Federal Government who should have been very proactive in directing public debates in the country.

“Many PDP leaders and their supporters are emboldened by the weak responses of designated public officers in Federal Government saddled with the responsibilities of engaging Nigerians around initiatives of government.

“The other challenge, which is very disturbing is issues around management of Nigeria’s foreign exchange by the Central Bank. A situation whereby the US Dollar would appear to be on a roller-coaster against the Naira is simply unacceptable.

“Had the Naira to US Dollar exchange rate been stable in the last two years, most of the alleged debates about so-called recklessness against the government of President Buhari would have been long settled.”