The central bank of NigerIa ( CBN) must be blamed for the rising inflation rate in Nigeria.
This is the submission of a Former house of representatives member and a leader of the rulling party All progressives Congress(,APC) in Lagos,Hon. Moshood Salvador who seems worried about the sufferings of NigerIan.
Hon. Salvador particularly accused the cbn governor, GODWIN EMIEFELE for being negligent in his duties and for being untruthful about the true rate of inflation, faulting the 18percent inflation rate declared by cbn.
He said cbn’s rate is a fraud and can not be relyed upon if compared with the reality on ground especially given the high cost of .prices of goods in the market.
He urged The Apex bank boss to also take responsibility for their choice of technology that is causing Nigerians to loose money through unnecessary bank charges and deduction adding that Godwin EMIEFELE must work on monitoring and improving bank and customers relationship .
Reacting on the 10 nair per litre excise duty to be imposed on locally produced carbonated drinks as announced by the finance minister Zainab Ahmed, the APC leader condemned the development in totality saying it will further aggravate the burden of Nigerians
With the introduction of excise duty of N10/litre on all non-alcoholic, carbonated and sweetened beverages, as contained in the 2021 Finance Act. With the policy, the prices of carbonated drinks as coke,fanta, Pepsi among others will increase across the country.