How I Watched Exchange Rate Moved From ₦138 To ₦112 To A Dollar As CBN Governor – Soludo

Governor Charles Chukwuma Soludo of Anambra State delved into a discussion on Anambra State’s 2024 budget and national issues during an interview with Seun Okinbaloye on the ‘Politics Today’ show. The conversation also touched on the policies of the recent CBN governor, Dr. Olayemi Michael Cardoso.

Governor Soludo, drawing on his historical experience as the former governor of the Central Bank of Nigeria (CBN), noted that during his tenure, he witnessed a significant improvement in the exchange rate.

He remarked, “I met the exchange rate at about ₦138. I’m the governor that presided over seeing the rate move down from ₦138 to ₦120, to ₦118, and actually came down to ₦112 to a dollar, before the global financial crisis of 2008/2009.”

He further, provided a deeper insight into his accomplishments, Governor Soludo shared his remarkable impact on external reserves.

He said; “I met 10 billion dollars as external reserves, and I built it to almost 63 billion that we had. Even in spite of the payment of the 12 billion external debt and then going through the worst financial crisis in history, I still left about 45 billion the day I left office.”

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