Mrs. Atoinette Sayeh, the Africa Director of the International Monetary Fund, IMF, at World Bank event in Peru condemned the CBN’s strong position on the Naira.
“..those measures introduced by CBN to restrict demand and limit access to official foreign exchange for certain imports are quite detrimental to economic activities and invariably led to a lot of unhappiness in the private sector” she said.
Sayeh concluded that “these measures were neither sustainable or advisable,” and therefore hoped “that there will be an opportunity to review forex restrictions and permit the Exchange rate to continue to adjust”, because, “the restrictions are “already making things harder for the average person to buy milk or to buy milk at an affordable price” she added.
