Monetary policy inconsistencies affects Naira value -Borno Varsity VC

From: Shehu Abubakar, Maiduguri

The Vice Chancellor of Borno State University, Prof Umar Kyari Sandabe, has blamed Nigeria’s monetary policy inconsistencies for the inability of the Naira to find its true market value.

Prof Sandabe was the keynote speaker in Maiduguri, Tuesday, January 31, at the University of Maiduguri’s

First International Conference Revolutionising Management Skills For Economic Advancement And Capacity Building In A Challenging Environment.

“There has never been a time when the Naira is allowed to find its true value in the market,” he posited, attributing the situation to what he described as poor monetary policy by the country’s monetary authorities.

He descried the situation where the authorities would tell the public that they have allowed the currency to find its true value, but after sometime they would suddenly come up with a policy fixing its market value and raises interest rates and causes inflation.

Turning to the 3-day conference, he charged the participants to find ways whereby managers can take appropriate decisions even in difficult situations.

The Dean of the university’s Faculty of Management Sciences, Prof Mohammed Dahiru Madawaki, described the conference as crucial in view of what he described as overwhelming planning and management challenges nationally and globally.

The conference, organised by the Faculty, drew over 70 scholars from universities within and outside the country.