A financial expert, Mr Eddie Osarenkhoe, has advised the Federal Government to align its fiscal policy with the Central Bank of Nigeria’s monetary policy to achieve economic stability.
Osarenkhoe, the immediate past President of Finance Houses Association of Nigeria (FHAN), gave the advice while speaking with the News Agency of Nigeria (NAN) on Wednesday in Ota, Ogun.
He attributed the current steady appreciation of the naira to CBN’s reforms and the country’s ability to pay some of its debts.
Osarenkhoe applauded the CBN reforms which, he said, had helped to sustain the steady appreciation of the naira against the dollar.
The financial expert stated that CBN was able to check speculators in the foreign exchange, thus resulting in continuous appreciation of the nation’s currency.
“If the federal government is able to come up with fiscal policy in alignment with that of CBN, it will help the nation’s economy a great deal,” he said.
According to him, the economy needs to improve through exports to enable the country to earn more foreign exchange.
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NAN reports that the naira has shown a remarkable strength against the US dollar, trading below ₦1,000 at the official market.
This development has been attributed to the strategic financial policies being implemented by the President Bola Tinubu-led administration and CBN.
(NAN)
