By using this site, you agree to the Privacy Policy and Terms & Conditions.
Accept
Okay.ngOkay.ngOkay.ng
Font ResizerAa
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Reading: Emir Lamido Sanusi Criticizes Buhari’s Naira Policy
Share
Font ResizerAa
Okay.ngOkay.ng
  • News
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Search
  • News
    • Politics
  • Entertainment
  • Business & Economy
  • Sport
  • Tech
Follow US
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
© OKN MEDIA PUBLISHING 2022 - All rights reserved
News

Emir Lamido Sanusi Criticizes Buhari’s Naira Policy

Farouk Mohammed
By Farouk Mohammed
Published: February 20, 2016
Share
2 Min Read
SHARE

sanusi-lamido1-1

Former head of Nigeria’s Central Bank Lamido Sanusi has said the government should end its policy of trying to maintain the value of the currency, the naira.

Mr Sanusi said the drawbacks of the policy “far outweigh its dubious benefits”, the Financial Times reports.

President Muhammadu Buhari told the BBC last week that he was not convinced of the need to “murder” the naira.

- Advertisement -

The falling oil price has put pressure on his currency policy. The authorities are keeping the official naira rate at around 200 to the US dollar, but the black market rate is closer to 300.

“The government does not have the reserves to keep the exchange rate at its official level in the market,” Mr Sanusi told the Financial Times.

The policy has “never worked” wherever it has been tried, he added.

But Mr Buhari told the BBC that he is yet to be convinced that he should allow the currency to be devalued.

- Advertisement -

In an effort to sustain the policy, the government has imposed currency restrictions, and halted the importation of certain goods in order to stop dollars leaving the country.

Mr Sanusi was the central bank governor from 2009 to 2014, when he was suspended by then-President Goodluck Jonathan following a row over corruption in the oil sector.

Stay Updated on the Go with Our Latest News—Join Our WhatsApp Channel Now!
TAGGED:buhariLamido SanusiNaira Policy
Share This Article
Facebook Whatsapp Whatsapp Telegram Email Copy Link Print
ByFarouk Mohammed
Publisher
Follow:
Farouk Mohammed is a Head Editor at Okay Nigeria (Okay.ng). He has been publishing for 10 years and focused more on Local/World News on Okay.ng
Previous Article President Buhari Arrives Egypt for Africa Business Forum
Next Article Strange Illness Kills Over 24 Children In Lagos State

Connect with Okay on Social

FacebookLike
XFollow
InstagramFollow
TelegramFollow

Dollar/Naira Rates

Dollar to Naira Exchange Rate

Okay.ng Logo
Buy Rate ₦1,605.00
Sell Rate ₦1,620.00

Last updated: 3 days ago (June 3, 2025 2:33 pm)

Displayed rates are for informational purposes only and are subject to change.

USD/NGN Converter

- Advertisement -
- Advertisement -
Ad imageAd image
- Advertisement -
Ad imageAd image

Recent Posts

Tinubu Warns Lagos, States Against Unauthorised Island Approvals, Vows to Revoke Encroachments
News
Shettima Inaugurates African Medical Centre of Excellence in Abuja, Hails New Era in African Healthcare
News
Tinubu Pledges Increased Infrastructure Funding, Calls for State-Federal Collaboration on Approvals
News
Trump and Musk Feud Deepens as Accusations Fly Over Policy, Power, and Personal Ties
International
Elon Musk Says Trump Would Have Lost 2024 Election Without His Support
International Top stories
- Advertisement -
Ad imageAd image

You May Also Like

Ooni of Ife
News

Ooni of Ife Calls Wike’s Ministerial Appointment a “Mystery”, Urges Academic Study

Muhammad A. Aliyu
Muhammad A. Aliyu
June 5, 2025
News

Nigerian Army Foils Kidnapping Attempt, Arrests Suspects in Ondo State

Oluwadara Akingbohungbe
Oluwadara Akingbohungbe
June 5, 2025
NewsTop stories

Former Petroleum Minister Prof. Jibrin Aminu Passes Away at 85, Leaving a Lasting Legacy

Oluwadara Akingbohungbe
Oluwadara Akingbohungbe
June 5, 2025
Okay.ngOkay.ng
Follow US
© OKN MEDIA PUBLISHING 2025 - All rights reserved
  • About Okay.ng
  • Advertising on Okay.ng
  • Contact Okay.ng
  • Careers
  • Meet the Team behind Okay.ng
  • Ownership and Funding of Okay.ng
  • Editorial Principles at Okay.ng
adbanner
Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?