The Coalition of Northern Groups has heavily criticized the Central Bank of Nigeria’s monetary policy under President Bola Tinubu, labeling it the worst since the country’s return to democracy in 1999.
In a recent interview, Comrade Jamilu Charanchi, the National Coordinator of CNG, discussed the nation’s leadership and economy. He accused the Tinubu administration of employing a trial-and-error approach, which he believes has harmed the population.
Citing data from the National Bureau of Statistics (NBS) and other sources, Charanchi pointed out that over the past year, key economic indicators have deteriorated without any effective solutions in place, exacerbating the hardships faced by the populace.
He stated, “Empirical data from NBS and other sources show that over the past year, key economic indices have worsened with no definitive and evidence-based solutions in sight. In this dire situation, instead of providing relief, the Monetary Policy Committee (MPC) announced an increase in interest rates, which will further devastate the economy and diminish the prospects for job creation.”
Charanchi further remarked, “The outcome of the MPC economic policies is a clear manifestation that President Tinubu’s economic team is the worst since Nigeria’s return to civil rule in 1999. The team lacks coordination, focus, foresight, and a clear understanding of the workings of the Nigerian economy. The anti-people policies of the government have only enabled a few elites to acquire wealth, while the vast majority of citizens continue to languish in deep poverty.”
For more updates, join our WhatsApp channel here.