Don’t Blame Me for Nigeria’s Economic Hardship – Cardoso

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The Governor of the Central Bank of Nigeria, CBN, Olayemi Cardoso has told Nigerians no to blame him for the economic woe being faced in the country.

Cardoso defended himself by saying the current hardship occasioned by the naira depreciation, was not orchestrated by his team.

I think it is very important for Nigerians to understand that the Central Bank Governor — I and my team — are not responsible for the woes that we have today; we are part of the solution.

We are determined to ensure that we work hard to get out of the mess that Nigeria is in. We assumed responsibility in a time of crisis of confidence; there was a crisis of confidence and you may all want to go to bed and wish that crisis of confidence was not there but it was, and we can’t turn back the clock.

The CBN governor who spoke with newsmen at the Monetary Policy Committee (MPC) meeting of the apex bank, in Abuja, explained that the CBN was taking the necessary steps to get the country’s fiscal and monetary health back to normal.

Cardoso said the MPC identified non-monetary factors driving inflation such as the persisting insecurity and infrastructure deficit and noted the role of fiscal policy in addressing the shortfall.

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