The Director of the Centre for the Promotion of Private Enterprise (CPPE), Muda Yusuf, has expressed concerns regarding the Central Bank of Nigeria’s (CBN) recent monetary policy decisions.
He argued that these measures will exacerbate the already challenging economic landscape for manufacturers, entrepreneurs, and investors.
Mr Yusuf made this known in a statement on Tuesday.
As part of efforts to tame inflation, the CBN earlier on Tuesday raised its benchmark lending rate by 50 basis points to 27.25 per cent.
The CBN’s decision to further tighten monetary policy comes at a time when businesses are in dire need of support to stimulate growth and recovery, a sentiment echoed across the business community.
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