Cardoso, in a statement on Thursday, said the CBN needs to return to its core functions of monetary policies and advisory roles to support economic growth.
Cardoso said the CBN’s advisory roles could include acting as a catalyst to promote specialised institutions and financial products that support emerging sectors of the economy. “These verticals have huge demand patterns, with the potential for high local inputs and value retention, and can be the basis for rapid industrialisation,” he said.
“It must be emphasised that CBN does not have a magic wand that can be waved at the current economic challenges,” he said.
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