in separate interviews, the experts called for stringent measures against money politics in the country, particularly dollarisation of the economy by politicians.
A Professor of Economics at the Olabisi Onabanjo University, Ago Iwoye, Ogun State, Sherrifdeen Tella, warned that should politicians release too much cash into the system, there might be dire consequences for the country. Tella said, “If it is foreign currency, the economy will be awash with a lot of foreign currencies which on the one hand is good. But on the other hand, it is bad because it will cause a lot of inflation. It will further depreciate the naira because people will start changing the foreign currencies to naira that they can spend, and that will cause a further depreciation of the naira.
The professor, however, decried that the Nigerian politicians were not likely to obey the provisions of the Electoral Act 2022., Prof Usman Muttaka of the Ahmadu Bello University, Zaria, Kaduna State, raised a similar alarm. According to him, the Central Bank of Nigeria’s Monetary Policy Committee might respond to the rising inflation by raising the benchmark interest rate, following which politicians might leave the economy with excess liquidity.
Hello Mr GodwinIEmefiele ,you said abokifx was the reason Naira was plummeting and you went ahead to shut it down. The Naira has since continue to nose dive at unprecedented level.. Are you really proud to be called cenbank Governor? We never had it this bad
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