S trategic steps must be taken by the Central Bank of Nigeria
(CBN) to drive down inflation and halt further erosion of wealth,
a former governor of the apex bank has said.
Why Central Bank must bring down
inflation, by Sanusi
Nduka Chiejina, Abuja and Collins Nweze |
Assistant Business Editor
November
6, 2023
‘Give agric priority’
Cardoso: we are changing apex bank’s policy direction
Dr. Muhammad Sanusi advised the incumbent CBN Governor, Dr.
Olayemi Cardoso, to initiate policies that will rein in inflation, which
he noted had severely impacted the economy.
Sanusi, the 14th Emir of Kano, spoke when he led members of the
Impact Investing Community on a courtesy visit to Cardoso at the
CBN headquarters in Abuja.
The inflation rate has maintained a long streak of consecutive
increases over the months.
By September, it stood at 26.72 per cent after seven consecutive
increases – the highest in over a decade.
According to Sanusi, CBN’s activities have a massive impact on lives.
He added that many people often “do not know the impact of a
central bank’s works until a central bank fails.”
He acknowledged the importance of long-term planning by the CBN
in achieving its goals.
Sanusi emphasised the need for fiscal authorities to focus on
agriculture and education, especially for the girl-child.
Expressing delight at his visit to Cardoso, Sanusi pledged continued
support by the Impact Investing Community to the CBN.

Cardoso reiterated that under his watch, the bank will focus mainly
on the core mandate of price stability.
He restated his team’s determination to change the narrative about
the apex bank and make it more efficient.
Cardoso said: “At the end of our tenure, we want to look back and
see that our policies have positively impacted people’s lives.”
He noted that the Impact Investing Community represents an
excellent future for Nigeria.
He believes in its potential to transform the country’s economy by
tapping into the investment opportunities available.
Commending the quality of leadership at Impact Investing Community
and its effort to create awareness as well as build partnerships, the
CBN governor said the bank would collaborate with it on frameworks
that will encourage investments to drive economic growth.
Chairman of the Impact Investing Community, Mrs. Ibukun Awosika,
said they were at the CBN to register their willingness to support what
the bank and the Federal Government were doing in changing the
local investment climate by redirecting resources to areas where they
will make the most positive impact.
According to her, over $200 trillion was available globally for
investments, $1 trillion of it for impact investing.
She added that Impact Investing, with a presence in over 41
countries, was willing to blend with traditional investment
practitioners.
Stressing the importance of social investment, she sought the
support of the CBN to enable the body to achieve its goal.
CBN Deputy Governor in charge of Corporate Services, Dr. Bala Bello,
underscored the importance of investments, noting that global capital
was moving towards social investment.
He noted that collaboration and effective communication were vital
to successfully navigating the prevailing challenges.
Impact investing refers to investments made into companies,
organisations, and funds to generate a measurable, beneficial social
or environmental impact alongside a financial return.

https://thenationonlineng.net/why-central-bank-must-bring-down-inflation-by-sanusi/

mynd44 oam4j lalasticlala seun nlfpmod

Good development over to you CBN

If the CBN governor and finance minister can work together to bring down the rate of the dollar, it will lead to the fall in the price of goods and services too which will also make inflation rate fall

According to her, over $200 trillion was available globally for
investments, $1 trillion of it for impact investing.


Please check again

Verify your facts

How do you address inflation without addressing the medieval Jewish ursury rates set by commercial banks ?


An economy with am average lending rate hovering between 27-33% is only beneficial to money lenders and capital markets.

It produces nothing and only promotes a liquidity based economy to the sole benefit of the thieves in suits aka banksters.

Crash interest rates and put a maximum cap of no more than 7% and see if inflation will not crash.

Ikaeniyan0:
If the CBN governor and finance minister can work together to bring down the rate of the dollar, it will lead to the fall in the price of goods and services too which will also make inflation rate fall

Dollar will continue to rise as long as lending rates are high.

You create a future inflated economy by simply maintaining high lending rates .

Manufacturers borrowing at 23% will put this in focus when setting prices for their goods. This is a sure sign that goods will go up in future and thus lead to inflation. People who are wise to this will dump the naira as a reserve currency knowing fully well it depreciate in value due to inflation .

This further fuels both the naira devaluation and the inflation rates.

It's a doubled edged sword.

I hope and pray Asiwaju and his team will move this country forward... Nigeria is our only home.

why produce in the first place if you don't have the money... others will look into what you didn't keeping market by borrowing what you'll now force us to pay for the interest will didn't know of is just not what we need now

DomPerignon:


Dollar will continue to rise as long as lending rates are high.

You create a future inflated economy by simply maintaining high lending rates .

Manufacturers borrowing at 23% will put this in focus when setting prices for their goods. This is a sure sign that goods will go up in future and thus lead to inflation. People who are wise to this will dump the naira as a reserve currency knowing fully well it depreciate in value due to inflation .

This further fuels both the naira devaluation and the inflation rates.

It's a doubled edged sword.