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Tag: Charles Udeogaranya

  • Former presidential aspirant faults floating of Naira

    Former presidential aspirant faults floating of Naira

    …urges economic team to reconsider policy

    Charles Udeogaranya, a 2019 APC presidential aspirant, has criticized the Central Bank of Nigeria’s (CBN) FOREX policy, specifically the floating of the Naira, which he believes is detrimental to the Nigerian economy.

    He argued that the policy essentially means the CBN is trading forex at parallel market rates, eliminating round-tripping but ultimately harming the economy due to the country’s reliance on imports and minimal local production.

    Udeogaranya stressed that Nigerians cannot compete globally when the average monthly labor wage can’t even buy basic goods abroad, citing Switzerland’s $29.25 price tag for 1kg of chicken fillet as an example.

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    He urged CBN Governor, Mr. Cardoso, and economic planners to reconsider the policy, suggesting the Naira should not exceed 600 Naira per Dollar.

    Udeogaranya offered his expertise to help the Central Bank devise more realistic measures to revitalize the Nigerian economy.

    Udeogaranya was one of the aspirants who contested for the APC ticket in 2018, alongside other notable figures like Dr. SKC Ogbonnia and Alhaji Mumakai-Unagha, but ultimately lost to incumbent President Muhammadu Buhari.

  • 2024 China-Africa forum holds brightest opportunity for African nations, says udeogaranya

    2024 China-Africa forum holds brightest opportunity for African nations, says udeogaranya

    An international commerce association leader and media consultant, Chief Charles Udeogaranya, has urged African leaders to leverage the upcoming 2024 China-Africa Summit to forge the strongest economic collaborations globally.

    Following a recent tour of China with members of the Nigerian mainstream media, Udeogaranya emphasised in a press release on Sunday, August 18, that African leadership should prioritize business-to-business (B2B) partnerships and direct currency swaps over loans for government projects with minimal economic impact.

    He highlighted that such initiatives would provide opportunities for local enterprises, leading to significant positive outcomes for citizens and creating massive job opportunities.

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    Udeogaranya also noted that China, as one of the friendliest nations, is eager to engage in mutually beneficial partnerships with African countries.

    He urged African leaders to welcome China as a close ally, treating them as Africa’s best friend on the global stage.

    Udeogaranya stated: “The 2024 Summit of the Forum on China-Africa Cooperation (FOCAC) will be held in Beijing from September 4 to 6 is a mere or mar situation, President Bola Ahmed Tinubu and his African counterparts must seize the opportunity and get the best out of it and I wish them the best of luck.”