By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
Times ReportersTimes Reporters
  • Home
  • News
  • Politics
  • Business
    • Economy
  • Sports
  • Entertainment
  • About Us
  • Bookmarks
Search
  • Home
  • About Us
  • Advertise
  • Join Us
  • Terms of Use
  • Privacy Policy
© 2024 Times Reporters | All Rights Reserved.
Reading: CBN hosts dialogue with NESG, Organised Private Sector
Share
Sign In
Notification Show More
Latest News
Soludo’s Desperation Evident in N50m Advertisement Levy on Anambra Guber Candidates -Group
Media Metro News Politics
Presidency Denies Allegations That President Tinubu Supported June 12, 1993 Election Annulment
News Politics
Tinubu Tasks Media on National Unity, Ethical Journalism as NUJ Celebrates 70 Years
Media News Politics
Mining Marshals Under Fire as Community Points to Their Role in Illegal Mining
Business Crime Defence Environment Insecurity Metro Mining News
Firm drags Zenith Bank to UK parliament, ICC over $64m S/Court contract judgment
Business Judiciary Legal/Courts Metro News
Aa
Times ReportersTimes Reporters
Aa
  • Home
  • News
  • Politics
  • Business
  • Sports
  • Entertainment
  • About Us
Search
  • Home
  • News
  • Politics
  • Business
  • Sports
  • Entertainment
  • About Us
Have an existing account? Sign In
Follow US
  • Home
  • About Us
  • Advertise
  • Join Us
  • Terms of Use
  • Privacy Policy
© 2024 Times Reporters | All Rights Reserved.
Times Reporters > Business > Economy > CBN hosts dialogue with NESG, Organised Private Sector
BusinessEconomyNews

CBN hosts dialogue with NESG, Organised Private Sector

Publisher
By Publisher Published June 22, 2024
Share
4 Min Read
SHARE


…Focuses on boosting economy

By Chidiebere Ugwu

The Central Bank of Nigeria (CBN) has hosted a dialogue between the Organised Private Sector (OPS) and the Bank’s leadership to explore strategies for enhancing Nigeria’s financial sector.

- Advertisement -
Ad image

The meeting held at the Bank’s Lagos office on Wednesday, June 19, 2024, focused on exploring how broad-based monetary policy communication and guidance can positively influence the global investment community’s perception of Nigeria and on determining the right bundle of monetary policies and interventions to increase the productive sector’s growth.

In addressing the need for improving monetary policy communication and guidance to positively influence the global CFO and investing community’s perception of Nigeria, the CBN Governor, Mr. Olayemi Cardoso emphasised the importance of private sector input in shaping economic policy. “The private sector is a critical engine of our economy,” he said. “This meeting underscores our commitment to working collaboratively with stakeholders to create a more robust and investor-friendly financial environment.”

Stakeholders at the meeting also pledged to establish a framework for collaboration and consistent interactions with the top leadership of the OPS to harmonise economic policy and guarantee the CBN’s effective support of the private sector in partnership with the Nigerian Economic Summit Group (NESG).

The CBN Governor also presented a detailed explanation of the economy’s trajectory, highlighting the deceleration of month-on-month inflation and expectations of moderation. He also said the Bank would continue improving monetary policy communication through forward guidance to domestic and global investors.

The CBN Governor also assured the private sector leaders of their commitment to building trust, ensuring price stability, and implementing monetary policies to support economic growth, improve stability in foreign exchange rates, and effectively moderate inflation. He assured them that despite current drawbacks, the Bank had consistently improved FX supply while protecting the interests of all parties. In addition, he stressed the importance of restoring confidence and trust in the Nigerian economy for all investors, local and foreign.

Mr. Cardoso also noted that the policy measures deployed by the CBN aim to build a transparent economy that will boost investors’ confidence and improve the country’s business environment.

The CBN presented a detailed explanation of the economy’s trajectory, the reasons behind the recent aggressive Monetary Policy Rate hikes, and the expected transmission timeline into the economy. It also highlighted the deceleration of month-on-month inflation and expectations of moderation in headline inflation going into the third and fourth quarters of 2024.

In his remarks, the President of the Manufacturers Association of Nigeria (MAN), Otunba Francis Meshioye, appreciated the CBN’s open dialogue and interest in ensuring the manufacturing industry and other organised private sectors are abreast of CBN policies. He said the OPS was concerned about how the price verification system is currently operated and, in agreement with the CBN, will provide the CBN with specific details about the concerns and suggestions for implementable improvements to the system.

During the discussions, other private sector leaders expressed concerns about the elevated impact of macroeconomic risks on business costs across various industries. They noted that while structured development finance support may not directly increase cash supply, it enhances the capacity of the productive sector to manage risks such as exchange rate volatility. They also emphasised the importance of the role of the Central Bank of Nigeria in catalysing trade finance and development finance support through traditional institutions.

Like this:

Like Loading...

Related

You Might Also Like

Soludo’s Desperation Evident in N50m Advertisement Levy on Anambra Guber Candidates -Group

Presidency Denies Allegations That President Tinubu Supported June 12, 1993 Election Annulment

Tinubu Tasks Media on National Unity, Ethical Journalism as NUJ Celebrates 70 Years

Mining Marshals Under Fire as Community Points to Their Role in Illegal Mining

Firm drags Zenith Bank to UK parliament, ICC over $64m S/Court contract judgment

TAGGED: CBN, Central Bank of Nigeria, NESG, organized Private Sector

Sign Up For Daily Newsletter

Be keep up! Get the latest breaking news delivered straight to your inbox.

By signing up, you agree to our Terms of Use and acknowledge the data practices in our Privacy Policy. You may unsubscribe at any time.
Publisher June 22, 2024
Share this Article
Facebook Twitter Whatsapp Whatsapp LinkedIn Telegram Email Copy Link Print
Share
Previous Article Cholera outbreak in Lagos escalates, claims 21 lives, cases rise to 401
Next Article Punch replaces daily, weekend titles editors
Leave a comment Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Stay Connected

Facebook Like
Twitter Follow
Instagram Follow
Youtube Subscribe
Telegram Follow

– Member of –

- Advertisement -
Ad imageAd image

Latest News

Soludo’s Desperation Evident in N50m Advertisement Levy on Anambra Guber Candidates -Group
Media Metro News Politics June 23, 2025
Presidency Denies Allegations That President Tinubu Supported June 12, 1993 Election Annulment
News Politics June 22, 2025
Tinubu Tasks Media on National Unity, Ethical Journalism as NUJ Celebrates 70 Years
Media News Politics June 22, 2025
Mining Marshals Under Fire as Community Points to Their Role in Illegal Mining
Business Crime Defence Environment Insecurity Metro Mining News June 22, 2025

You Might also Like

MediaMetroNewsPolitics

Soludo’s Desperation Evident in N50m Advertisement Levy on Anambra Guber Candidates -Group

June 23, 2025
NewsPolitics

Presidency Denies Allegations That President Tinubu Supported June 12, 1993 Election Annulment

June 22, 2025
MediaNewsPolitics

Tinubu Tasks Media on National Unity, Ethical Journalism as NUJ Celebrates 70 Years

June 22, 2025
BusinessCrimeDefenceEnvironmentInsecurityMetroMiningNews

Mining Marshals Under Fire as Community Points to Their Role in Illegal Mining

June 22, 2025
Times ReportersTimes Reporters
Follow US

© 2024 Times Reporters | Deigned by AuspiceWeb Graphics. All Rights Reserved.

  • Home
  • About Us
  • Advertise
  • Join Us
  • Terms of Use
  • Privacy Policy
Join Us!

Subscribe to our newsletter and never miss our latest news!

Zero spam, Unsubscribe at any time.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?
%d