Embrace effective monetary system, MAN tells CBN

The Manufacturers Association of Nigeria has urged the Central Bank of Nigeria to adopt a strong monetary system to reverse the unfavorable economic situation that the naira swap has brought about in the nation.

Francise Meshioye, the association’s president, made this call on Tuesday during the presentation of the MAN reporter of the year award.

He declared that MAN is committed to maintaining an environment that is favorable for manufacturing businesses to expand and create job opportunities for the nation’s unemployed youth.
Meshioye stated, “The CBN needs to have an efficient monetary scheme or system to ensure that they release enough money into circulation. Hoarding won’t occur if this is done. If funds are released, they should be carefully supervised.
He revealed that MAN spoke with the presidential candidates about problems that bothered it.

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“We have discussed the significance of having a robust and competitive manufacturing sector with the presidential candidates.”

We have equally pushed major political contenders in a variety of forums to include the requirement to hasten the expansion and development of the manufacturing sector in their economic agenda.

In this regard, we have made our Blueprint for the Accelerated Development of Manufacturing in Nigeria and the agenda for manufacturing in Nigeria for the next ten years available to all political parties, he said.

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In response to the 10-day extension for the naira exchange, he claimed that because the judiciary had already rendered judgment, no one else could overturn it.