Business Naira Will Hit N1000/$ Before End of 2017 If Care is Not Taken- Expert

[LequteMan]

Nigerian economic expert Henry Boyo has stated that the naira will depreciate further against the dollar to N1000 per dollar at the parallel market before the end of the year if care is not taken.

The respected Henry Boyo is Managing Director, Cocosheen Nigeria Limited, Ikeja in Lagos state. He has condemned the CBN severally in the past over its forex market policies and stance.

A Reuters report quoted Boyo as lamenting that the current monetary policy framework adopted by the CBN was skewed against the naira.

He added that the naira would hit 1000/dollar unless the central bank reviewed its monetary policy framework.

He made the statement when the naira fell to N516 per dollar at the parallel market. Now the currency exchanges around N520 per dollar.

 

[curator]

he should state CLEARLY what he would do differently... everyone speaking in tongues

 

[LequteMan]

@curator Thing is no one really knows the answer to the problem. The solutions proferred so far are easier said than done. There are so many barriers and interests. I may sound trite but it's the gospel truth.