CBN Pressing For Organized Labor To Cooperate With Economic Stakeholders


The Central Bank of Nigeria (CBN) has called on the organised labour to collaborate with the managers of the economy to aide inclusive growth across the country.

The acting director, Corporate Communications of the CBN, Mr Osita Nwanisobi, made the call while speaking at a one-day interactive enlightenment session with the organsied labour and civil society on the CBN’s five-year policy thrust in Lagos at the weekend.

Mr Nwanisobi said, “The CBN alone cannot bear with all of the issues in the Nigerian economy, and we believe that it is important that every Nigerian key into the reality that we need to grow our economy.

“It is not just about the CBN or the Nigerian government, it is about the Nigerian people, and we are believing that labour being an important and significant stakeholder group would be able to take this message to their people.

“We are calling on labour and everyone to support the interventions by the CBN as these policies of the CBN are to grow the economy in a sustainable manner so we can see how to get inflation to single-digit.”

While giving clarity on the circular asking microfinance banks to desist from foreign exchange transactions, Mr Nwanisobi emphasised that the practice by some MFBs posed significant risks to the banking system.

He added that those who deviated would be sanctioned, and that the news on CBN recalling sale of FX to BDCs was fictitious.