Central Bank's 27.25% Rate Hike Must Be Evidence-based - Uche Uwaleke

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When any business shut down or close down, it is most unlikely they will come back so CBN must implement harsh but smarter policies and inform the public when they will bring economy back on track. CBN must implement policies to bring down and stabilise the FX to below at least 1,200. Low exchange rate reduce all prices and bring inflation down to single digit and keeps jobs employed. Agree when there are too much Naira in circulation then there will be more demand for dollar which will drive up the rate so where is this large amount of Naira comes from? Is it from allocations oil income to the State quarterly if so then reduce it and let their spending be transparent and accountable. At the same time, CBN should release dollar that they have earn previously to intervene the market after reducing the State funds for immediate effect. 🙏🙏✌️❤️💪