“Don’t Tamper With the CBN” — Okonjo-Iweala Calls for Independent Economic Institutions in Nigeria
Thank you for reading this post, don't forget to subscribe!Ngozi Okonjo-Iweala has stressed the importance of safeguarding the independence of Nigeria’s economic institutions in her vision for a social contract.
Speaking at the 2024 Annual General Conference of the Nigerian Bar Association (NBA), she emphasized that the Central Bank of Nigeria (CBN) should not be manipulated for fiscal purposes, such as altering interest or exchange rates, or printing excess currency, which could trigger inflation.
Okonjo-Iweala outlined that the social contract should include priorities like securing lives and national assets, ensuring basic infrastructure, creating social safety nets for vulnerable populations, and upholding judicial independence.
She urged the NBA to hold the government accountable in these areas to foster a stable and thriving Nigeria.
The conference, themed “Pressing Forward; A National Posture to Rebuilding Nigeria,” featured notable attendees including former Ghanaian President John Mahama, Justice Monica Dongban-Mensem, and Vice President Kashim Shettima, representing President Bola Tinubu.
Acting Chief Justice Justice Kudirat Kekere-Ekun, Senate President Godswill Akpabio, and House Speaker Tajudeen Abbas were also represented.
