The Manufacturers Association of Nigeria has implored the Central Bank of Nigeria to embrace an effective monetary system to inverse the poor economic condition in the country caused by the naira swap.
This call was made by the president of the association, Francise Meshioye, on Tuesday at the annual MAN reporter of the year award.
He said MAN is concerned and committed to upholding a conducive environment where manufacturing business can grow and establish economic opportunities for the unemployed youths in the country.
Meshioye said, “If CBN has to release enough funds in circulation, they need to have an effective monetary scheme or system to ensure that. If this is done, there will be no hoarding. If funds are released, it should be monitored effectively.”
He disclosed MAN had interactions with the presidential candidates on issues bothering it.
“We have engaged the presidential aspirants on the importance of having a virile and competitive manufacturing sector.
“We have equally pushed at different fora with major political contenders to incorporate the need to accelerate the growth and development of the manufacturing sector in their economic agenda.”
“In this regard, we have availed all the political parties with our Blueprint for the Accelerated Development of Manufacturing in Nigeria as well as the agenda for manufacturing in Nigeria for the next 10 years,” he said
In his reaction to the 10-day extension for the naira swap, he said the judiciary already pronounced judgement, which no other can reverse.