Nigeria’s growing inflation rate must be blamed on the Central Bank of Nigeria, CBN.
This is the argument of Hon. Moshood Salvador, a former member of the House of Representatives and a leader of the ruling party All Progressives Congress, APC, in Lagos, spoke concerning the plight of Nigerians.
Hon. Salvador specifically accused the CBN governor, Godwin Emefiele, of being neglectful in his duties and being untruthful about the real rate of inflation, criticizing the CBN’s reported 18% inflation rate.
He said that the CBN rate is a forgery and cannot be relied on when compared to the reality on the ground, particularly considering the high cost of commodities in the market.
He challenged the apex bank governor to accept responsibility for their choice of technology, which is leading Nigerians to lose money via excessive bank charges and deductions, he also said that Godwin Emefiele must concentrate on monitoring and strengthening bank and customer relationships.
Reacting to finance minister Zainab Ahmed’s announcement of a 10 naira per litre excise levy on domestically made carbonated drinks, the APC leader slammed the move, saying it will exacerbate Nigerians’ burden.
With the implementation of a N10/litre excise charge on all non-alcoholic, carbonated, and sweetened drinks in the 2021 Finance Act. As a result of the legislation, the cost of carbonated beverages like Coke, Fanta, and Pepsi would rise across the country.