CBN seeks syn­ergy be­tween FG, states financial poli­cies

Daily Trust - - BUSINESS -

The Cen­tral Bank of Nige­ria (CBN) has said it is crit­i­cal to co­or­di­nate fis­cal and mone­tary poli­cies at the fed­eral and states lev­els for macroe­co­nomic sta­bil­ity.

The CBN Gover­nor Mr. God­win Eme­fiele gave the in­di­ca­tion yes­ter­day while declar­ing open the 2015 Mon­terey and Fis­cal Pol­icy Co­or­di­na­tion (FLAC) work­shop in Abuja.

Rep­re­sented by the a Deputy Gover­nor in the CBN, Mrs Sarah Alade, the CBN gover­nor said it was to en­sure syn­ergy be­tween the states and the fed­eral gov­ern­ment fis­cal and mone­tary regimes that the states were in­vited for the first time to par­tic­i­pate in the work­shop. At least 29 states par­tic­i­pated.

We are talk­ing about the need to di­ver­sify the econ­omy but the poli­cies go be­yond this com­mit­tee. So at the end of the work­shop, rec­om­men­da­tions will be made and pol­icy op­tions ad­vanced, Eme­fiele said. Man­u­fac­tur­ers As­so­ci­a­tion of Nige­ria [MAN] has called for the re­sus­ci­ta­tion of ail­ing in­dus­tries in the North east sub- re­gion.

The chair­man of the as­so­ci­a­tion in charge of the North east re­gion, Dr. Ahmed Mai. Abba, made the call while speak­ing to jour­nal­ists in Bauchi.

He said that the re­vival of the in­dus­tries will bring about a so­lu­tion to ex­trem­ism and in­sur­gency in the re­gion.

He said when fully re­sus­ci­tated a num­ber of unemployed youths would be en­gaged in use­ful ven­tures which will re­duce their in­volve­ment in crim­i­nal ac­tiv­i­ties and their vul­ner­a­bil­ity to be re­cruited by in­sur­gents.

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