The Governor of the Central Bank of Nigeria, Dr Olayemi Cardoso, has flayed the past administrations of the Central Bank of Nigeria (CBN) for straying from its core mandates and dabbling into fiscal policies under the guise of developing financial activities.
This is even as the apex bank’s czar disclosed that under the past administrations, there was also a lack of clarity in the relationship between fiscal and monetary policies which was evident in the implementation of quasi-fiscal policies that injected N10tn into the economy through various intervention programmes.
Cardoso made this revelation while delivering the keynote address at the 58th Annual Bankers Dinner of the Chartered Institute of Bankers of Nigeria (CIBN), which was held in Lagos on Friday.
