Mr Peter Obi, Labour Party presidential candidate says distortions in the economy and fiscal policies have triggered instability of the Naira.
Obi described the plummeting exchange rate is worrisome.
The naira has been on a free fall since the last week, currently exchanging for N710 per dollar.
But providing solutions to the exchange rate crisis, Obi explained that “The Fiscal Managers should come up with a policy line or modality for arresting the value drift and restoring confidence in the National currency”.
Speaking further, he said “Also, denominating domestic transactions and contracts in foreign currency should be stopped forthwith”
