Nigeria’s economy still facing crisis – CBN

The Central Bank of Nigeria, CBN, has said that Nigeria remains in a financial and economic crisis.

CBN Governor Yemi Cardoso made this statement at the 14th Annual Bankers’ Committee Retreat in Abuja, stressing that it is a situation inherited by the current CBN administration.

He explained that the role of the Bankers’ Committee remains critical towards addressing the challenge as well as reflating the economy.

According to him, the nation faces challenges in how to address poverty, rising inflation, infrastructure deficits, insecurity, and unemployment, among others.

The apex bank boss called on members of the Bankers’ Committee to reflect on the past year’s challenges and devise actionable tools to address them effectively.

Speaking, the Special Adviser to the President on Economic Affairs, Tope Fasua, expressed concerns over excess charges by operators of Point of Sale, PoS, while calling on the apex bank as well as deposit money banks to make cash available at all ATM points.

The three-day event brings together key players in the banking sector and has the theme “Contract and Commitment to National Development and Economic Growth.”