We Will Sack Workers If Banks Continue Charging 37% Interest On Loans — MAN

The President of the Manufacturers Association of Nigeria, Otunba Francis Meshioye, has warned that high interest rates charged by banks will lead to exorbitant prices of goods and businesses may apply different tactics to reduce their losses.

He said the ripple effect of higher interest rates is that manufacturers may lay off workers when sales become worse due to high prices.

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