FG, CBN sign deal to tackle inflation, debt, forex
The Federal Government and the Central Bank of Nigeria have signed a deal to coordinate policies on inflation, debt, and forex management. Read More: https://punchng.com/fg-cbn-sign-deal-to-tackle-inflation-debt-forex/
The Federal Government and Central Bank of Nigeria have signed a deal to coordinate policies on inflation, public debt, government borrowing, liquidity, and foreign exchange management. This Memorandum of Understanding aims to align key economic decisions while preserving the Central Bank's independence. CBN Governor Olayemi Cardoso emphasized the agreement would enhance policy coherence and effectiveness in managing the economy.
The minister of finance, Taiwo Oyedele, assured that the move would not undermine the CBN's autonomy. The two institutions would collaborate more efficiently in areas such as government cash management, debt issuance, liquidity forecasting, and policy consultations. Oyedele identified food, imported costs, energy, and logistics as key drivers of inflation, ruling out a return to fuel subsidies.
The agreement comes amid global economic uncertainty and geopolitical tensions, with the CBN Deputy Governor, Dr Muhammad Abdullahi, stressing the importance of coordination in navigating such challenges.
Written by urgent.news from Punch Nigeria's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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