The Enugu Chamber of Commerce, Industry, Mines and Agriculture (ECCIMA) has urged the Central Bank of Nigeria (CBN) to intensify efforts to save indigenous businesses and industrial sector from total collapse.
The ECCIMA President, Chief Odeiga Jideonwo, made the call at the CBN Special Day at the ongoing 36th Enugu International Trade Fair on Saturday.
The ECCIMA President, Chief Odeiga Jideonwo, made the call at the CBN Special Day at the ongoing 36th Enugu International Trade Fair on Saturday.
According to him, we are not unmindful of the various interventions of the CBN to support and encourage the growth of businesses in various sectors of the economy.
“However, we counsel that more sustainable strategies and intervention schemes should be adopted,” Jideonwo said.
The president expressed worry over the consistent and recent increase in interest rates by the apex bank in an aggressive push to manage the nation’s inflationary pressure and liquidity.
“However, we counsel that more sustainable strategies and intervention schemes should be adopted,” Jideonwo said.
The president expressed worry over the consistent and recent increase in interest rates by the apex bank in an aggressive push to manage the nation’s inflationary pressure and liquidity.
“The high interest rate regime will likely have adverse effects on the accessibility of bank credit by businesses.
“There is no doubt that access to credit and cost of funds have relationships with increasing or decreasing levels of productivity, GDP and stabilising our economy.
“Be that as it may, we hope that these policies of the bank are in tandem with the renewed hope mantra of the Federal Government,” he said. (NAN)
“There is no doubt that access to credit and cost of funds have relationships with increasing or decreasing levels of productivity, GDP and stabilising our economy.
“Be that as it may, we hope that these policies of the bank are in tandem with the renewed hope mantra of the Federal Government,” he said. (NAN)