Economy

CBN Not Responsible For Nigerians’ Economic Woes — Cardoso

The Governor of the Central Bank of Nigeria (CBN), Dr Olayemi Cardoso, has said that the apex bank was not responsible for the current economic hardship that Nigerians are facing, even as he said that the country does not have the opportunity of making a wrong turn.

Cardoso, while answering a question posed to him by LEADERSHIP at the end of the Monetary Policy Committee (MPC) meeting in Abuja on Tuesday, absolved the CBN of any culpability in the current economic woes of the country.

Currently, inflation figures are on the brink of 30 per cent with food inflation nearing 40 per cent. This is coupled with a highly volatile exchange rate that had seen the value of the Naira plummeted to N2,000 to a dollar in recent times.

The CBN governor expressly stated that, “We at the CBN are not responsible for the woes of today. We are part of the solution and are determined to work to get out of the mess that the country is in.

“We assumed responsibility at a time that there was crisis of confidence. We cannot turn back the clock. All we can do is to do the difficult things to make a bad situation better.”

 

 

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