‘Nigeria’s Economy Facing Stagflation, Banks Under Pressure’- Uwaleke Faults MPR Hike

Nigeria’s first Professor of Capital Market Studies, Uche Uwaleke has warned the Central Bank of Nigeria to be careful with its hawkish monetary policy approach because the challenge currently facing the Nigerian economy is not just inflation but stagflation.

The reaction comes after the CBN Monetary Policy Committee raised MPR by another 200 basis points to 24.75 per cent on Tuesday.

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