*Pix above: CBN GOV Yemi Cardoso
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Mr Daniel Akeju, an advisor and treasury manager, has faulted the Central Bank of Nigeria’s (CBN) recent increase in the Monetary Policy Rate (MPR) in an attempt to curb inflation and stabilise the economy.
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Akeju, a member of the Chattered Institute of Treasury Management (CITM), made his position known while speaking with journalists in Abuja on Thursday.
He said that the challenges facing Nigeria’s economy required more than a simplistic approach of raising the MPR.
He noted that while controlling inflation was crucial, it must be done in tandem with measures that would address the root causes of economic instability.
He said that a balanced, holistic strategy that would combine supply-side interventions, enhanced security, economic diversification, and social safety nets would be more effective.
This, according to him, was in terms of stabilising prices, improving food availability, reducing terrorism, and alleviating poverty.{agency}/PLEASE SHARE
