Naira will fall from N570/$1 to N400/$1 at black market if… – CBN ex-deputy gov, Moghalu
A former Deputy Governor of the Central Bank of Nigeria, Kingsley Moghalu, says the value of the naira will fall from N570/$1 to N400/$1 at the parallel market if there is a massive rush of dollars into the Nigerian market through export earnings. Moghalu made this known in a PUNCH Live Interview on Thursday. He said, “The reason we have the prices we have is that the official rate is perceived by the market not to be the real rate; that’s the fundamental reason why you have a huge gap of N410 at the official rate – Investors
