CBN Monetary Team To Meet Over Recession, Rising Inflation, Others

The 251st edition of the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) meeting begins today.

The monetary team will meet to attend to the dying economy of the country as well as dwell on measures to halt the gradual slide into recession and rising inflation among other economic challenges facing President Muhamamdu Buhari’s administration.

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Discussions at the MPC meeting are also expected to dwell on the appraisal of the newly introduced flexible forex policy, energy shortages on productivity and effect of pipeline vandalism on revenue accruing to the treasury.

The meeting would also dwell on the forecast of the International Monetary Fund (IMF) that the Nigerian economy would contract by 1.8 per cent this year and the subsequent admission by the Minister of Finance, Kemi Adeosun, that the economy was ‘technically in recession’.

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Daniel Enisan is a content writer at edliner.com. With a degree in mass communication, Daniel is a full breed journalist. Daniel is a realist, loves the use of sarcasm, a movie and music junkie. He is also a poet and a good listener.

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