Legal Nigeria

JUST IN: Moghalu applauds Tinubu’s decision on subsidy, forex

Former Deputy Governor of the Central Bank of Nigeria (CBN), Kingsley Moghalu, has commended President Bola Tinubu for his bold step in removing the fuel subsidy and forex reform.

The presidential candidate of the Young Progressive Party (YPP) in the 2019 general election also urged the president to set up a 7-member economic team comprising only economists.

Moghalu, who expressed concern about the number of politicians in the current administration, urged the president to revamp his cabinet within the first year of his administration.

He spoke at the 16th edition of the Leadership 2023 conference and Awards holding at the Transcorp Hilton Hotels, Abuja.

Moghalu, who delivered a keynote papeor titled “Nigeria’s distressed economy, which way out”, said this is necessary if the country is to get out of its current crisis.

He also applauded the current measure taken by the CBN to tighten cash liquidity.

Though belated, he said it was necessary given the level of assault carried out on the bank by the last administration.

He also suggested seven key steps that can help the country get out of the current crisis.

Source: The nation