The International Monetary Fund has faulted the Central Bank of Nigeria’s monetary policy, saying that it has been ineffective in the fight against rising inflation.
The IMF advised the Federal Government to tighten up its fiscal policy through investments in critical sectors capable of putting the economy on a better path in the long term.
The IMF says While monetary policy has the tools to subdue inflation, fiscal policy can put the economy on a sounder long-term footing through investment in infrastructure, health care, and education; fair distribution of incomes and opportunities through an equitable tax and transfer system; and provision of basic public services.