By David Kabiyesi
Central Bank Governor, Godwin Emefiele had a closed door meeting with Prsident Tinubu this afternoon, iwiitesslive.com gathered
Although, details of the meeting is still sketchy as at the time of filling this report, but word was rife that the president had summoned Emefiele to deliberate on new naira policy as well as the unification of exchange rate.
Tinubu, in his inaugural speech urged Emefiele to work towards unified exchange rate, while promising to review the naira redesign policy by Buhari administration.
“Monetary policy needs thorough house cleansing. The Central Bank must work towards a unified exchange rate. This will direct funds away from arbitrage into meaningful investment in the plant, equipment and jobs that power the real economy.
“Interest rates need to be reduced to increase investment and consumer purchasing in ways that sustain the economy at a higher level. Whatever merits it had in concept, the currency swap was too harshly applied by the CBN given the number of unbanked Nigerians.
“The policy shall be reviewed. In the meantime, my administration will treat both currencies as legal tender.” he said