Nigeria’s ongoing foreign exchange reforms are beginning to restore predictability to the economy, a development the Chairman of Coronation Merchant Bank, Babatunde Folawiyo, says is critical for long-term growth and business planning.
Folawiyo made this known during a media engagement to mark the merchant bank’s 10th anniversary, where he assessed the impact of recent FX and macroeconomic reforms.
He noted that while the adjustment phase has been painful for businesses and consumers, a stable and predictable policy environment, even at higher exchange rates, is far more constructive than prolonged volatility.