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CBN’s Policies Killing Businesses – Nigerian Civil Society

by on October 29, 2015

The Nigerian Civil Society ‎(Situation Room) has expressed worry over the current policies of the Central Bank of Nigeria (CBN) which it said have succeeded in shutting down many businesses, thereby contributing to the economic challenge being faced by the country.

The group also lamented that the administration of President Muhammadu Buhari has been very slow in defining its economic policies due to lack of direction and proper economic blueprint to turn around the economy of the country.

The Executive Director, Policy and Legal Advocacy Centre (PLAC), Mr. Clement Nwankwo stated that, “government has been very slow in defining its economic policies, there is no Minister of Finance, the central bank is implementing policies that we are quite worried about in the sense that we don’t see a direction of the country, unemployment is becoming a major concern, and businesses are not understanding what to do and how to cope with the current central bank policies that are busy shutting down businesses, it is a major concern for us.”

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The group expressed this  Monday (26-1-2015) in Abuja while reviewing and commenting on the State of the Nation with a special focus on Nigerian Economy and other governance issues.

Maxwell Ashiuloka

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  • Smart Okokobi
    October 29, 2015 at 7:49 am

    The Government should with immediate effect revalue the Naira currency ; one naira = one dollar and expel IMF & World Bank out of Nigeria immediately ;

    These two evil Organizations came to Nigeria about 30years ago through greedy Babangida and introduced structural Adjustment Programme (SAP). They then started the devaluation of our Naira currency. The price is what we are still paying till today.This was the beginning of Nigeria’s economic and social problems. For about 30 years running till today they are devaluing our Naira currency with nothing whatsoever to show for it order than subjugations, pain, suffering, crime, massive poverty, in my Nigeria. These two Institutions with their Cohorts have held Nigeria hostage for 30 years now. My Nigerian People cannot come out of the evil economic doldrums. So, ENOUGH IS ENOUGH IMF & World Bank. You should leave our Nigerian Government alone to do her work.

    Smart Okokobi (North America)


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