CBN Gov Cardoso’s Full Speech At His First MPC Meeting

The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, says himself and his team are not responsible for the current economic woes in the country.

He stated this on Tuesday in Abuja at the Monetary Policy Committee (MPC) meeting of the apex bank, the first since he assumed office in September 2023.

The apex bank boss, however, said the CBN is taking the necessary steps to get the country’s fiscal and monetary health back to normal.

The MPC also raised the Monetary Policy Rate (MPR), which benchmarks interest rates, by four hundred basis points from 18.75 percent to 22.75 percent.

With inflation at 29.90 percent, he said the new MPR is part of moves to tackle the country’s inflation.

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