January employment, business growth outlook positive
In what could be interpreted as an admission of its shortcomings and self-indictment, the Central Bank of Nigeria (CBN) has admitted that Nigerians are displeased with the management of the country’s inflation.
Experts had balked at efforts taken by the monetary authority to stem the inflationary pressure. Many have accused the authorities of artificially manipulating the foreign exchange market leading to the currency crisis said to be responsible for the inflation.
The headline inflation, riding on the spike in prices of food and other essential consumables, has risen consistently for over a year, hitting 14.89 per cent as of November.
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