The Misconception Between Finance Minister And I—-Emefiele

<p><em>The misconception<&sol;em><br &sol;>&NewLine;<strong><a href&equals;"https&colon;&sol;&sol;openlife&period;ng&sol;">OpenLife Nigeria&comma;<&sol;a><&sol;strong> in its overview of Nigeria’s 2022 economic outlook&comma; reports that the currency of any country is a good measure of its economic well-being&period;<br &sol;>&NewLine;When the economy is doing well&comma; the local currency is at its best with other international currencies&period;<br &sol;>&NewLine;Similarly&comma; for any economy&comma; its productive capacity has profound impact on the strength of the local currency&period;<br &sol;>&NewLine;It is as a result of this that financial analysts have passed a verdict of failures on <a href&equals;"https&colon;&sol;&sol;www&period;thisdaylive&period;com&sol;">President Muhammadu Buhari<&sol;a> over the dismal state of the Naira&comma; Nigeria’s local currency which seems to have defiled all economic logic and currently exchanges at N580 to a US Dollar&period;<br &sol;>&NewLine;In some important respects&comma; experts say that weakened Naira is a reflection of the lopsided development model of the economy&comma; orchestrated by paralleled operational mode by the Central Bank of Nigeria which initiates and manages the country’s monetary policies and the Ministry of Finance which manages the country’s fiscal policies&period;<br &sol;>&NewLine;Clarifying the relationship on Arise TV&comma; the governor of the Central Bank disclosed that the <strong>misconception<&sol;strong> is baseless stressing that at no time has he worked in opposite direction with the Minister of Finance&comma; Zainab Shamsuna Ahmed&period;<br &sol;>&NewLine;He added that there is perfect synergy between the fiscal policy managers and monetarist&period;<br &sol;>&NewLine;According to him&comma; &OpenCurlyDoubleQuote;I am in good synergy with the Minister of Finance&period; We have been working harmoniously together and we will continue to work together for economic growth and the benefits of Nigerians&comma;” he stated&comma; adding that the success recorded by the government in providing succour to citizens in the country during the outbreak of pandemic has been as a result of the cordial working relationship&period;<&sol;p>&NewLine;