Take a fresh look at your lifestyle.

Obi Advises CBN to Re-consider some Monetary Policies


peter obiThe former Governor of Anambra State, Mr. Peter Obi has called on the Central Bank (CBN) to re-consider some of the recent monetary policies.

He was especial about those, according to him, whose adverse effects outweighed their positive impacts.

[Image: Former Governor of Anambra State, Mr. Peter Obi]

Obi was speaking to journalists during the ordination of 2015 set of priests by the Awka Diocese of St. Patrick’s Cathedral, Awka, on Saturday.

Obi who said he appreciated the motives behind some of the recent regulations, said that the issue of domiciliary account needed to be re-considered as it is hurting the economy due to its effects on small and medium scale businesses, which he noted are the biggest employers of labour in the country.

He insisted that any policy not favourable to small and medium scale businesses both in short and long terms should be re-examined, especially now that one of the biggest problems Nigeria is facing is that of unemployment.

“Besides”, he said, “those small and medium businesses are pivotal to the fight against extreme poverty.”

Obi, who said that a survey of small and Medium scale businesses in cities such as Onitsha, Nnewi, Aba, Lagos (Alaba, Trade fair complex, among others) and other trading cities would reveal that traders were suffering.

He also said that the unintended negative impacts of the policy dwarfed its positive effects.

He, therefore, called on the CBN to commission a study so as to obtain the realities on ground right.

Valentine Obienyem

© Copyright 2020 ElombahNews.

DISCLAIMER : Opinion articles are solely the responsibility of the author and does not necessarily reflect the views of the publishers of ElombahNews!
Would you like to be receiving ALL ElombahNews links ‘On The Go’ on WhatsApp Or Telegram? If yes, join us here on WhatsApp or Telegram, or provide us your Telephone number via publisher@elombah.com or sms/inbox +2349050382526 and you are good to go!
DOWNLOAD ElombahNews mobile app here
Send eyewitness accounts/ reports/ articles  to publisher@elombah.com; follow us on twitter @ElombahNews; like our Facebook page ElombahNews 

For adverts & inquiries, call +447460770987, +2349050382526

Comments are closed.