Nigerian state uses central bank as ‘piggy bank’ – MPC member
Central bank policies are crowding out private investment, economist argues
Nigeria’s central bank is being used as a “piggy bank” by the country’s government, leading to a crowding out of private investment, a member of the monetary policy committee (MPC) has said.
Monetary data “shows a sharp rise in the extent” of financing of the government deficit by the Central Bank of Nigeria (CBN), Adedoyin Salami said in a statement included with the recently released official record of the MPC meeting, held on July 24–25.
Since December 2016, the central bank’s holding of
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