A former Deputy Governor of the Central of Nigeria, Obadiah Mailafia, has lamented the continued fall of the Nation’s naira in the international market, describing the development as impediment to national development.
Mailafia who made this known, while addressing newsmen in Akure, the Ondo State capital, attributed the fall to poor micro and monetary policies of government.
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The former deputy governor of the apex bank said, excessive borrowing and over-dependence on the importation of goods, have led to high rate of inflation in the country.
While calling for effective mechanism to check the trend, Malaifa noted that the present status quo might put manufacturers and other investors in a more difficult situation.
(Edited by Tunde Orebiyi)
