Cardosso

The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has hinted that the apex bank will keep interest rates high until inflation subsides by implementing orthodox policies. Inflation in Nigeria remains stubbornly high at 33.2 per cent, the highest in three decades, while food inflation is higher still at 40 per cent. Cardoso,…

The Central Bank of Nigeria (CBN) is not defending the naira with foreign reserves, its Governor Olayemi Cardoso, said yesterday at the ongoing Spring Meetings of the International Monetary Fund (IMF)/World Bank in Washington DC. Cardoso said: “Defending the naira seems to be a prevalent theme. Let me be very clear: it is not our…