• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Monday, June 30, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

CBN Ways And Means Fuelled Inflation, Weakened Naira – Sanusi

by Mark Itsibor
2 years ago
in Cover Stories, Featured, News
CBN ways and means
Share on WhatsAppShare on FacebookShare on XTelegram

Former governor of the Central Bank of Nigeria, Muhammad Sanusi II, has said the apex bank’s lending to the federal government under the administration of former President Muhammadu Buhari through Ways and Means triggered inflationary pressure in Nigeria and weakened the value of the Naira.

Advertisement

The CBN’s loan to the federal government hit N22.7 trillion, an amount the CBN said had been securitised not to dampen its balance sheet. Ways and Means is a way in which the federal government raises funds by borrowing from the CBN.  

The 14th Emir of Kano also said the central bank had embarked on aggressive monetary tightening through various liquidity control instruments, including open market operations, Open Buy Back (OBB) and high T-bills rates, an indication that the bank was sticking to its core mandate of financial systems stability and inflation control.

“I am optimistic, especially in the short term. We’ve had eight years of rapid expansion of the central bank’s balance sheet through ways and means. And that has fueled inflation and weakened the currency. And that is the fact,” Sanusi II said yesterday at MTN Capital Markets Day, an event organised by MTN Group to provide updates and insights to the financial community, including investors, analysts, and stakeholders.

We Have Sufficient Stock Of Naira Notes — CBN

RELATED

Panic As Bees Attack Worshippers At Central Mosque In Edo

Panic As Bees Attack Worshippers At Central Mosque In Edo

25 minutes ago
JUST-IN: Youths Burn NDLEA Office, Storm Emir’s Palace In Kwara Over Insecurity

JUST-IN: Youths Burn NDLEA Office, Storm Emir’s Palace In Kwara Over Insecurity

28 minutes ago

Current governor of the CBN Olayemi Cardoso had said the bank would return to its primary role of price stability.  

Acknowledging that the central bank can use different instruments to mop up excess money in circulation, Sanusi said it needs to do it in a manner that minimizes the cost to both the central bank and the government’s balance sheet, and that’s why it has to rely a little more on non-conventional instruments.

“If you look at OMO Bills and OBB rates in the last few weeks, I can see that the central bank has started a process of aggressive tightening. OBB rates are beginning to approach what they should be. And I think that’s what the market needs to look at; that the central bank is taking this role of tightening money and fighting inflation as a primary focus,” he stated at the event.

He urged the audience to show understanding with the fact that those new monetary policies take time to manifest.

“For the short term, I don’t think we have a problem. I think the central bank is doing the right thing – tightening money, clearing the backlog, trying to fund the market, and I think we will have stability.”

Earlier, CBN’s director in charge of the research department, Dr Omolara Duke, who represented Cardoso at the event said: “The Ways and Means will no longer be more than five percent, going forward. The period for the government to access Ways and Means is over.”

She also disclosed that the central bank is looking at how to drive down the cost of remittances to increase the inflow and move them away from the informal sector into the formal.


We’ve got the edge. Get real-time reports, breaking scoops, and exclusive angles delivered straight to your phone. Don’t settle for stale news. Join LEADERSHIP NEWS on WhatsApp for 24/7 updates →

Join Our WhatsApp Channel

BREAKING NEWS: Nigerians can now earn US Dollars from the comfort of their homes with Ultra-Premium domains, acquire them for as low as $1700 and profit as much as $25,000. Click here to learn how you can earn US Dollars consistently.


Tags: Sanusi Lamido Sanusi
SendShareTweetShare
Previous Post

Nigeria Sliding Into One-party State, Atiku Warns

Next Post

Diabetes Day: 6m Nigerians Are Diabetic, Say Experts

Mark Itsibor

Mark Itsibor

Mark Itsibor is a journalist and communication specialist with 10 years of experience, He is currently Chief Correspondent at LEADERSHIP Media Group and writes on Finance, Economy, Politics, Crime, and Judiciary. He has a B.Sc in Political Science, Post Graduate Diploma in Journalism (Print), and B.A in Development Communication. His Twitter handle is @Itsibor_M

You May Like

Panic As Bees Attack Worshippers At Central Mosque In Edo
News

Panic As Bees Attack Worshippers At Central Mosque In Edo

2025/06/30
JUST-IN: Youths Burn NDLEA Office, Storm Emir’s Palace In Kwara Over Insecurity
News

JUST-IN: Youths Burn NDLEA Office, Storm Emir’s Palace In Kwara Over Insecurity

2025/06/30
Federal Gov’t Delegation Arrives In Saudi Arabia For Dantata’s Burial
News

Federal Gov’t Delegation Arrives In Saudi Arabia For Dantata’s Burial

2025/06/30
Loneliness Claims 871,000 Lives Annually — WHO
News

Loneliness Claims 871,000 Lives Annually — WHO

2025/06/30
Police Deny Purported Killing Of Officers
News

Man Arrested For Allegedly Plotting Friend’s Kidnap In Anambra

2025/06/30
Rotary Abuja CBD Club To Donate Classrooms In Nasarawa Community
News

Rotary Abuja CBD Club To Donate Classrooms In Nasarawa Community

2025/06/30
Leadership Conference advertisement

LATEST

Panic As Bees Attack Worshippers At Central Mosque In Edo

JUST-IN: Youths Burn NDLEA Office, Storm Emir’s Palace In Kwara Over Insecurity

JUST-IN: Dalori Resumes As APC Acting Chairman, Presides Over NWC Meeting

Federal Gov’t Delegation Arrives In Saudi Arabia For Dantata’s Burial

BREAKING: Policemen Lay Siege To PDP Headquarters, Stop Planned BoT, NEC Meetings

US To Recognise Only Civil Marriages For Refugee, Asylum Spousal Applications

JUST-IN: PDP BoT Changes Meeting Venue Over Police Siege On Party Secretariat

I’ll Contest Again In 2027, Obi Assures Supporters

Loneliness Claims 871,000 Lives Annually — WHO

Germany Scraps Global Visa Appeal System

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.