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CENTRAL Bank of Nigeria Governor Olayemi Cardoso has said that the exchange rate of the Naira to other currencies is grossly undervalued.
Cardoso said this at the ongoing Nigeria Economic Summit’s Launch of Outlook for the Nigerian Economy 2024.
He said that inflation will moderate this year and described the national currency as “undervalued,”.
This is Cardoso first public comments on the economy since November.
He said: “Inflationary pressures are expected to decline in 2024 due to the CBN’s inflation-targeting policy, which aims to rein in inflation to u21.4%,” .
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-January 24, 2024 @ 14:08 GMT|
Tags: Central Bank of Nigeria Governor Olayemi Cardoso
