The Federal Government and the Central Bank of Nigeria (CBN) have been counseled to find other means of controlling inflation in the country other than raising the Monetary Policy Rate (MPR).
The Institute of Chartered Secretaries and Administrators of Nigeria (ICSAN) gave the counsel at a media interactive session addressed by its President/Chairman of Council, Mrs. Funmi Ekundayo.
ICSAN Noted that CBN has increased MPR about four times by a total of about 225 basis points this year with little or no impact on inflation.
