Emefiele, Intervention funds, Nigerian banks, Senate, CBN, oil blocs, transactions, cash deposits, forex, forex market, auctioned the sum, cbn, Money Laundering, interest rate, cbn
CBN Governor, Godwin Emefiele

The Central Bank Monetary policy committee ( MPC), reduced interest rate to 13.5% from 14%. This is 0.5 reduction.

This stimulant in Monetary interest digits was announced by Mr Godwin Emefiele the Governor of central bank. This is a welcome moves.

As a Policy and management expert , we believe that it could be reduce further to enhance capacity and infrastructure development . To cushion the effect of the new 30 thousand Naira minimum wages across all board.

Our assertion can be deduced because of the following;

  • We have 43 Billion dollars in our foreign reserved
  • Their is increase in confident of our foreign Partner
  • The marginal coming down of inflation
  • The average Price of Oil according to US prediction this year is 62 dollars, this will impact on foreign exchange.

Also the use of open market , to mop up liquidity during the 2019 General election by central bank.

Policy experts opined that with the reduction to 13 5% or more if need be , that it is good for domestic investment , Diversified economy and positive distance in PRS.

Now that a dollar is 358 Naira, Let relaxed Pressure in Borrowing and increase our revenue. A implementable Policy should evolve to discourage Multiple tax in the Agriculture sector.

This article was written by Frank Dikirie, a Management and Policy Consultant.

Be the first to comment

Leave a Reply

Your email address will not be published.