News of the finance

The Governor, Central Bank of Nigeria (CBN), Prof. Charles C. Soludo has once more reiterated the need to refocus on price stability as the pre-eminent function of the CBN, more so given the recent massive consolidation of the
banking sector. The Governor made this known at the 11th Monetary Policy Forum, which took place at the Corporate Headquarters, Abuja. According to him, the era when the CBN was overwhelmed by regulatory and supervisory functions
was over, noting that such roles are only tangential. Prof. Soludo explained that low and stable inflation, in addition to a robust financial system are essential ingredients for the conduct effective monetary policy. He noted that in an economy where more that 70% of the loan able funds with deposit money banks are made up of short term fund ranging
tenor from 30 to 90 days tenure; banks will be unwilling to fund long term investment. For more on the Forum, see past event

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