The failed N10 trillion intervention funds and the N27 trillion ways and means (W&M) are partly responsible for the high inflation rate Nigeria is battling with, Governor of the Central Bank of Nigeria (CBN), Yemi Cardoso, has said.
The failed N10 trillion intervention funds and the N27 trillion ways and means are partly responsible for the high inflation rate Nigeria is battling with, Governor of the Central Bank of Nigeria , Yemi Cardoso, has said.With reining in inflation as the focus, Cardoso said the professionalism and independence-mindedness of the Monetary Policy Committee members are helping with the appropriate tools to tame inflation.
While he did not expressly say that the rate may moderate as MPC meets later this month, Cardoso said decisions on rates would be decided by data.
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Cardoso blames Nigeria’s rising inflation on N27trn, N10trn CBN borrowing by past govtThe Governor of the Central Bank of Nigeria, CBN, Olayemi Cardoso, has said Nigeria's economy is currently suffering from the consequences of wasteful N27 trillion Ways and Means advance and N10 trillion intervention under the past government. He alleged that the interventions led to rising inflation and interest rates.
Read more »
CBN To Tame Inflation Via Conventional Methods, Says CardosoCardoso also highlighted the significant achievement of merging disparate exchange rates into a more unified system.
Read more »
CBN governor Cardoso seeks end to excessive FX volatilityThe Nation Newspaper CBN governor Cardoso seeks end to excessive FX volatility
Read more »
CBN’s Cardoso blames high interest rates on ₦27trn FG lendingA Nigerian newspaper and Online version of the Vanguard, a daily publication in Nigeria covering Nigeria news, Niger delta, general national news, politics, business, energy, sports, entertainment, fashion,lifestyle human interest stories, etc
Read more »
Why CBN insists on another recapitalisation — CardosoThe Central Bank of Nigeria, CBN, insisted weekend that further capitalisation of banks in the country was for the common good of the nation.
Read more »
Cardoso: Coordinated monetary, fiscal policies crucial in achieving economic stabilityOlayemi Cardoso, CBN governor, says coordinated monetary and fiscal policies are crucial in achieving economic stability.
Read more »