Foreign exchange: Adopt multidimensional approach to end crisis – NECA tells FG

Nigeria Employers Consultative Association, NECA, has urged the Federal Government to adopt a multidimensional approach to address the foreign exchange crisis.

The Director-General NECA, Wale-Smatt Oyerinde, disclosed this during a press conference on Monday.

Central Bank of Nigeria’s recent FX policy measures allowed Naira to float at the Importers and Exporters window.

Consequently, the Naira traded at N750-760 to 1$ on Monday at the foreign exchange market.

Against this backdrop, Oyerinde said the Federal Government should work toward boosting oil production to earn more revenue in foreign currencies.

“We want to call on the current administration that for you actually to address the issue of forex; you must take a multidimensional approach while we focus on dealing with the oil theft in the Niger Delta, we should also focus on dealing with the rapid increase in oil production so that we can meet our quotient quotas,” he said.