Okunrounmu, a former Director, Budgetary Department at CBN, made the commendation in an interview with the News Agency of Nigeria in Ota, Ogun, on Friday.
He said that the CBN decision to reduce the interest rate was an attempt to further encourage people to take credit and loans as the nation’s economic activities had slowed under the lockdown situation. He noted that productivity and investment would be higher with a lower interest rate rather than the higher interest rate, thus making the economy to grow faster.
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