The Monetary Policy Committee held its meeting at Abuja for policy rate decision and left the interest rate at 11 percent while they refrained from further devaluation of naira.But are their decisions prudent? A reasonable number of financial observers and economists believe that The Monetary Policy Committee is living in alternative planet. With the new normal of failing … [Read more...] about Nigeria interest rate at 11 %: Falling Oil Price impacts Naira and Inflation rate
Inflation
Sanusi’s CBN and Waning of Monetary Policy as tool to control rising Inflation
Nigeria’s Inflation rate increased from 11.1 percent to 12.8 percent The inflationary pressure is escalating and at 12.8 percent inflation rate recorded at the ending of first quarter of 2011 is not showing any sign of coming down. According to the data coming from the National Bureau of Statistics (NBS) the February inflation rate stood at 11.1 percent and since then has … [Read more...] about Sanusi’s CBN and Waning of Monetary Policy as tool to control rising Inflation
Nigeria’s Olusegun Aganga: Monitoring the increasing external debt and rising inflation
Nigeria has a new Minister of Finance, Olusegun Aganga a managing director at Goldman Sachs branch in Britain. Aganga, a free marketer has a substantial experience in private industry together with his academic brilliance, he can efficiently manage and oversee Nigeria’s financial house. The minister of finance must be ready and keen to make sure that Nigeria will not fall into … [Read more...] about Nigeria’s Olusegun Aganga: Monitoring the increasing external debt and rising inflation