Some finance experts on Friday expressed optimism that the full implementation of the new
They told the
NAN reports that Emefiele, on
Emefiele said the CBN would act as a financial catalyst by targeting predetermined sectors that could create jobs on a mass scale and reduce the country's import bills.
Madubuike said that high interest rates and unemployment were the major problems of the country.
"Any policy that focuses on unemployment reduction will boost economic growth and development," he said.
Mr Sehinde Adenagbe, the Managing Director,
Adenagbe said that low interest rates would lead to a redirection of funds into the stock market, which offers higher returns.
He said that proper lending to the
Accordingly, more companies will seek listings on the exchange once the SMEs are adequately funded.
He said that the conservative nature of the governor was good for the economy, noting that he could not make uncalculated utterances that would affect the economy.
Yusuuf said that Emefiele's blueprint would not lead to a major policy change.
He said that a detailed implementation plan was paramount, to avoid erosion of investor confidence and a depletion of the nation's foreign reserves.
Boyo said that Emefiele might mean well for Nigerians but he may find it difficult to implement policies that would affect his constituency as a banker.
He said that banks had enjoyed growth and sustainability in the past, based on the apex bank's wrong economic policies.
Boyo said that lower interest rates could not be achieved without a reduction in the Monetary Policy Rate (MPR) and the cash reserve ratio (CRR).
He said that the CBN needed to address the excess liquidity in the system, to achieve economic growth and ensure lending to the real sector. (NAN)
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