 All right, welcome back. It's the Business Insight and Plus TV Africa. In his inaugural speech, President Mohammed, sorry, Bala Ahmed announced the need to unify multiple exchange rates in the country. Tinnable said fuel subsidy was no longer sustainable, as it is taking a deep toll on the economy. According to him, the monetary policy structure is said to undergo house cleaning. Now, the president believes that a unified interest rate will drive investment that will foster economic growth. I still have a Muhtar with me. Muhtar, just explain to us in lay terms for the common man to understand, what does a unified forex rate mean and what is the essence of it all? Well, a unified forex means that we won't have a bulky effect and they have a government price, you know, so we have one rate. But again, this is not okay. We have achieved it before. I keep saying that we have unified exchange rates for a while at that time. But then you could say it was being driven by CBN because CBN at that time was giving supply to the parallel market. We have unified exchange rates, but we started having challenge. Always when we start having challenge, unified exchange rates is when we have an external shock in the system like the COVID-19 pandemic, the Russian Ukraine crisis. It's like the COVID-19 pandemic. Then before that, we have had a unified exchange rate of $368,000 to $355,000 to exchange between the Naira and the dollar, both in the parallel market and in the government import-export window. And at that time, we were attracting foreign investors also into our market. But COVID came and there was a disruption and that has been why we've not had unified exchange rates. Then the National CBN came up and said, look, we are no more supplying effects to the parallel market. But in doing that, they did not create another market for those people that used to asset the effects market. We saw the exchange rate move to the level it is today. So unified exchange rate means that we have only one exchange rate, whether you go to the bank, whether you go to demand on the streets. That's what it basically means. Okay, fine. In the wake of all of this now, just last weekend, there were talks that CBN actually devalued the currency and there was a counter-reports or the CBN denying that it did not devalue the currency. So the question right now, this unified rate, would it in any way lead to currency devaluation? I think it will. I think we must look at saving the face and say it will because now is the current price of the Naira to the dollar in the import export window, the real value of the Naira to the dollar. I don't think so yet because of the challenges. And if we have been earning efforts into our economy, then maybe I would have said, okay, yes, the unified rate is okay. But again, we've not been earning efforts, we've not been able to meet demands, especially in the area of demand, and we have not been able to attract supply. So that means your exchange rate is not market friendly. So unified exchange is market friendly rates whereby investors will begin to come into Nigeria to buy some of these investors who begin to come into Nigeria because they want to have the, they will bring in their effort because they know that they will have returned both portfolio and foreign direct investors. Those are what we are expecting that the unified exchange rate we do for our economy. All right. We must say a very big thank you to you. I have been speaking with Muktam, Hamid International Finance and Analysts and of course, an economist. Thank you so much for all of the useful insight that you have brought on the show this morning. My pleasure, Justin. Have a great day. Thank you. All right. And that's where we will be drawing the curtains on today's edition. Business Insight will return again tomorrow. I will still keep an eye on the fuel subsidy removal. But this time around, we'll look at the effect on food security. You do us, want to join us with that for tomorrow. My name is Justin Akadone. I'll see you again next time. Bye for now.