The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, emphasized that the country’s monetary policy would remain focused on orthodox strategies in a firm commitment to tackling inflation.
Speaking at a press briefing following the 298th Monetary Policy Committee (MPC) meeting in Abuja, Cardoso reiterated that there was no going back on the current approach, highlighting that the central bank would deploy every tool at its disposal to curb inflation.
He said: “Let me first say that the Central Bank is resolute and committed to continuing to fight the war against inflation. There’s no going back on that. And as I’ve said at previous fora, we are going to deploy everything in our arsenal to ensure that we are able to tame it. And of course this entails the return to Orthodox monetary policies. So, I think it is important to state that up front there’s no going back on that.”
Cardoso’s remarks came as the MPC voted to further tighten monetary policy in…