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Recession: CBN Urges Nigerians To Imbibe Savings Culture

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The Central Bank of Nigeria (CBN)  has advised Nigerians to adjust themselves and learn how to save the little they have following the ongoing economic recession in the country.

The acting director, Corporate Communications of CBN, Mr. Isaac Okorafor gave the advice at the ongoing CBN Fair taking place in Enugu.

He pointed out that it was no longer business as usual, stressing that there was need for Nigerians to learn how to save the little they have so they can use it over time.

Okoroafor further urged Nigerians to begin to eat what “we produce, adding that we needed to change our ways” to the realisation of a new troubling situation which is that it is no longer business as usual.

“Nigerians should try to adjust themselves. This is the real change we need to change our ways to the realisation of a new troubling situation which is that it is no longer business as usual. Nigerians should learn how to save the little they have so they can use it over time. Nigerians should begin to eat what we produce”

He, however, assured that the president really means business, adding that it is just for a while.

“First of all, what is recession? Recession simply put is a period of dwindling economic realities. Incomes are falling and government’s revenue is dwindling. Unemployment is increasing because businesses are not the way they should be. They sack workers because income is shrinking.

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