Skip to main content

CBN’s financing support to govt has created economic stability – ACJHR

CBN’s financing support to govt has created economic stability – ACJHR
COVID-19: CBN intervention fund inaccessible to medical labs — GMLD
CBN

*Says apex bank’s efforts be commended by Fitch Report,not undermined

By Joseph Erunke

ABUJA-The African Centre for Justice and Human Right,ACJHR ,has flayed criticism of the Central Bank of Nigeria,CBN, for providing financing support to the federal government.
The rights group said its reaction was in response to the position of Fitch Report,a global rating agency which had faulted the apex bank for providing financing support for the government.
Fitch Report had criticised the decision of the Central Bank of Nigeria to print more money to finance the federal government’s budget.

READ ALSOFight Against Crime: Waive gets commendation for partnering police

Fitch, had in its report claimed that the repeated financing of government’s budget by the CBN through Ways and Means was a risk to Nigeria’s macroeconomic stability.
But the rights group in a statement by its Executive Director,Barr. Chinwendu Nduka-Edede,said the global rating agency was wrong in its position.
“ACJHR, as one of the critical stakeholders in the African and  Nigerian project however stands with the CBN and its Governor, Godwin Emefiele, on this very important matter,”it declared.
Going further,the group said:”We are of the opinion that the financing support the CBN is offering the Federal Government, contrary to Fitch’s position, has created a lot of economic stability in the system.
“We make bold to say that it is under the purview of the apex bank to offer the needed support as a lender of last resort if the Federal Government cannot provide the necessary fund for all its obligations.
“Rather than faulting the CBN for doing what it is expected to do in this kind of situation, Fitch report should be commending the apex bank.
“The ACJHR therefore calls on the Fitch and other organisations to desist from undermining the CBN’s gesture with distorted facts because this will not do the system and the country any good.”

The post CBN’s financing support to govt has created economic stability – ACJHR appeared first on Vanguard News.


https://ift.tt/3j1mrmC by Urowayino Jeremiah via Vanguard News Albert Einstein Fools of Fortune
Labels:

Comments

Post a Comment

Popular posts from this blog

Where is Aguleri Located?

Aguleri is a prominent town often associated with the mighty river called Omabala wgiyflows through it. It is home to a lot of great men and women of Anambra Stare - notably Willie Obiano. History had it that it was the cradle of Igbo people established by Eri, son of Had, son of Jacob (you got to read your Bible babe). Where is Aguleri located? It can be foueat the north eastern part of Nigeria. They share boundaries with Kano, Umueri, Anam and Nando httpss://twitter.com/share https://google.com https://www.alexa.com/siteinfo/google.com https://www.quantcast.com/google.com https://sharedcount.com/?url=https://google.com https://www.similarsites.com/site/google.com https://facebook.com https://www.alexa.com/siteinfo/facebook.com https://www.quantcast.com/facebook.com https://sharedcount.com/?url=https://facebook.com https://www.similarsites.com/site/facebook.com https://youtube.com https://www.alexa.com/siteinfo/youtube.com https://www.quantcast.com/youtube.com
Post a Comment
Read more

How to jump-start Nigeria economy post-COVID-19 Pandemic

Nwali Tochukwu Watching with consternation the fall out of events, actions, and inactions of our Nigerian leaders on mitigating the negative impact of COVID-19 Pandemic disruptions on our social and economic lives. As a young dynamic business and entrepreneurship writer, and author cum small business owner, what came into my mind as we navigate the storms of COVID-19, was a common English phrase Adages, Proverbs, first recorded in Fuller’s Gnomologia, 1732: ‘A stitch in time saves nine’ which was translated to literally, solve the problems right now! Why procrastinating? If we, as a nation wants to break away from past mistakes, and present mistakes, we should hold the bull by the horn right now. And avoid the roads of political expediency. That is exactly what the stitch in time simply stood for. Promptly address issues posed by Coronavirus. By quickly sewing up of a small hole or tear in a piece of material, so saving the need for more stitching at a later date when the whole ha
2 comments
Read more

A lot of people think of actresses as prostitutes ― Joke Lawal

On-the-rise actress, Joke Lawal is living up to the title bestowed on her in 2016 as Nollywood New Bride by White Cowry Awards as the one-time City People Awards nominee is rapidly becoming a force to reckon with in the make-believe world. The Moshood Abiola Polytechnic graduate who dumped her degree in Business Administration in pursuit of her passion for acting in a chat with Potpourri has revealed what she hates about being an actress and what she would love to see a change in the movie-making landscape. ALSO READ:  Buhari urges Nigerians to pray for peace, unity “I would like to change people’s perception of actresses. A lot of people think of actresses as prostitutes, they see us as people who are not worthy of marriage and having a family. If I have the power this is something I will like to change. I will also like to see a change in the way our stories are written and interpreted, and in the quality of our film productions. Another thing I would like to change too is, how po
Post a Comment
Read more