Mr El Rufai if you don't have the knowledge of Economics and the operations of monetary policy keep quiet because your rants reek of ignorance.

First of all, there is no advanced economy where inflation is above 2%. If anything, they are trying to boost inflation. The current inflation rate in the UK is 0.5% so that's false information and that no one has picked up on that yet shows that you can just feed people with rubbish and they'll accept it without proper research.

Secondly, you cannot legislate to bring down the MPR.
The Central Bank has the sole statutory right to do that and this is how Central Banks operate round the world. Independence is what gives Central Banks their credibility and that has interfered with badly in Nigeria. Suggesting that is laughable.

Finally, interest rates determine a lot of things about an economy and the exchange rate is one of them. A low interest rate boosts the GDP by boosting production but has a negative effect on the exchange rate and vice versa. The CBN I believe increased the MPR for this purpose and why it doesn't seem to work has more to do with the fundamentals of the economy (which is depressing) and the seeming lack of transparency in the FOREX market. And yes, the interest rate should be higher than the inflation rate or else Banks will not lend because they'll lose money doing that.

The CBN isn't responsible for fiscal policies. The Federal Government is. So talk to the guy in Aso Rock Mr El Rufai.

Mckinsey is one hell of a place to be at. Passing the test alone is something to be proud of. I'm just imagining what my responses would have been if I was on the receiving end of that interview. It takes critical and logical reasoning ability to answer those questions. Nice 1 op

Hey guys I need some advice. I have an offer from cbn but I'm undecided on what to do. I currently work with one of the commercial banks in Nigeria and I love the culture of the bank. I plan on going for my an MBA in the next 2 years. I also plan on starting the CFA exam next year. I want to know if cbn will offer the right environment for growth and if the work environment is challenging (I don't like being idle). Also, I'll need to know what the pay structure for the SS II level is. More importantly, I wish to establish a career in the financial services industry (not necessarily banking) and I need to know if this experience will be relevant. (I started work this year and I've completed my ICAN exams). Thank you for your anticipated responses.

Please who has an idea what the pay structure is in cbn? Thank you in advance.

Life for me and all my family members. My sis got married this year, I passed out from NYSC and I passed my ICAN (pe1) exam. ( Waiting for the pe2 result). May his name be praised.

Bam Bam La La.... Always dance to it when its playing

Congrats to all CU peeps convocating today. Welcome on Board

"Blue Magic, that's a brand name, like pepsi that's a brand name. I stand behind it, I guarantee it, they know that even if they don't know me anymore than they know the chairman of General Mills" - Denzel Washington in American Gangsta

May her soul rest in Perfect Peace

Nairaland is a place of laughs 4 real. Peoples' comments are phucking hilarious.

Sanusi is officially my mentor! The govt cant kip doing "father christmas" 4 us if we r askin dem 4 a reform! This removal of subsidy is very necessary 4 nigeria 2 be reformed. D NLC/TUC shld realise this and call off d strike alredy!

sanusi is a really brilliant man and he also looks trustworthy. The so called cabals should be prosecuted and brought to book immediately.

u didnt make any mistake ma bro. u enjoyed urself and u now regret your actions. get prepared 4 fatherhood.goodluck