Nigeria’s economy may relapse to recession – CBN

The Monetary Policy Committee of the Central Bank of Nigeria has admonished the government to faithfully commence implementation of 2018 budget to avert the danger of economy sliding back to recession.

CBN governor, Godwin Emefiele confirmed the committee position to the media Tuesday just as the committee left the Monetary Policy Rate unchanged at 14 per cent.

The CBN Governor, Mr. Godwin Emefiele, announced the decision of the committee at the end of a two-day meeting held at the apex bank’s headquarters in Abuja.

Seven out of ten members of the committee agreed to maintain the current monetary policy stance while three voted to increase the rate.

Details later

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