The President of the Coalition of Civil Society, Etuk Williams, in a press briefing in Abuja, stressed that the Arewa youth claim that the policies of the apex bank have plunged the country’s economy into comatose is baseless.
According to him, “it is common knowledge that expanding export is the surest way to make Naira regain value”.
He explained that Nigeria gained most of its foreign exchange from the sale of crude oil, adding that the implication of the above fact is that the over-reliance on crude oil which accounts for more than 90% of Nigerian’s foreign exchange determines the value of the Naira.
The official said the argument against the CBN Governor “is false and meant to derail the economic and monetary policies of the Governor.”
He commended “the continuous efforts of the CBN Governor in repositioning Nigeria economy into an export driven one to complement the earnings from the sales of crude oil, to create wealth and employment for…