Kingsley Moghalu, a former deputy governor of the Central Bank of Nigeria (CBN), has counseled the Federal Government and the CBN to go after chief executives of commercial banks for round-tripping and manipulation of the foreign exchange rate instead of scapegoating Cryptocurrency traders for the free fall of the Naira.
It will be recalled that the federal government had recently clamped down on BINANCE, including detaining its top officials, for allegedly manipulating the Forex market.
Moghalu, who spoke as the Keynote Speaker at the 16th annual LEADERSHIP Conference and Awards in Abuja on Tuesday, also noted that bad governance brought Nigeria to the current economic quagmire, saying “If you cannot govern the people well, you cannot manage the economy.”
