Mon. Jun 17th, 2024

Nigeria’s CBN lending policy must be reviewed to end poverty – Presidential aspirant

Nigeria’s CBN lending policy must be reviewed to end poverty - Presidential aspirant

Nigeria’s CBN lending policy must be reviewed to end poverty - Presidential aspirant

NIGERIA:

Presidential candidate of the All Blending Party (ABP), in the forthcoming 2019 general elections in Nigeria, Mr. Moses Godia Shipi, on Thursday said he will review the Central Bank of Nigeria (CBN), lending policy if he is voted into power.

Shipi revealed that the country’s economy is too heavily cash-oriented in transactions of goods and services, saying that this is not in line with the global trend, considering Nigeria’s ambition to be amongst the top 20 economies of the world by the year 2020.

The ABP presidential candidate who spoke in Jos the Plateau State capital of northcentral Nigeria, during the party’s campaign flag off, said the 15 percent interest rate charged by the CBN on money borrowed is too outrageous and designed to crash the economy.

“The CBN lending policy was designed to crash the economy and this explains why Nigeria is one of the poorest country in the world”.

Speaking further he said his party will address poverty and the hardship brought upon the country by the present administration, adding that the ABP will declare war against poverty.

“If poverty is tackled, insecurity would be a thing of the past.

“The core challenges of Nigerians remains the issue of poverty, education, religion and leadership, these are issues I want to take up as president if elected in 2019.

“Our party is set to bring to Nigerians ideas that work, ideas that will change the perception and misgivings of Nigerians about what their leaders should do for them and what they stand to gain”, he said.

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