Rushing to stabilise naira won’t yield positive results, Peterside tells FG
Comment
The CEO and founder of Stanbic IBTC, Atedo Peterside, has said that by maintaining sustained economic firmness in the country, the Nigerian currency can appreciate against the dollar and other foreign currencies.
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Mr. Peterside emphasized that the rushing advance towards the stabilization of the naira to gain a greater position against other currencies by the Federal Government is not the best move for the currency to appreciate.
While speaking on Channel Television’s Politics Today on Thursday, Mr. Peterside, insisted that rushing to make the currency appreciate without adequate firmness won’t yield result.
While stating points to back up his opinion on the rise and fall of the naira, he told the government that the exchange rate was inherited by them, and since then they have been trying to manage it instead of trying to sustain it at the price of 1400 or 1300 per dollar.
