CBN and Ministry of Finance Warned Over “Trial and Error” Fiscal Policies

By: Michael Shaibu

The National Chairman of Democratic People’s Congress, Rev. Olusegun Peters has warned the Governor of Central Bank Dr. Godwin Emefiele and his Ministry of Finance counterpart Mrs. Kemi Adeosun on what he called trial and error fiscal policies that may adversely affect the volatile Naira against the Dollar and further plunge the economy into the wood.

Rev. Peters said that the inconsistency in policy formulation and implementation by the managers of the economy was responsible for the current economic recession in the country that has seen the prices of things skyrocketing even as the Naira continued to fall against the Dollars.

According the National Chairman of DPC, “there must be a halt to the monetary and fiscal policies by Emefiele and Adeosun that led to capital flight from the economy which plunged the national into recession”.

He however said that his party supports the current CBN efforts at pumping more dollars into the economy to reduce the pressure on the naira and facilitate economic recovery since the high exchange rate was responsible for the economic recession.

 

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