Kingsley Moghalu

Economists and policy analysts have expressed concern about the recent actions taken by the Central Bank of Nigeria concerning the benchmark interest rate and other monetary policy matters in the country. The Monetary Policy Committee of the Central Bank of Nigeria increased the benchmark interest rate to 22.75 per cent on Tuesday, as part of the move to aggressively manage the country’s inflationary pressures. Olayemi Cardoso, the governor of the CBN, on Tuesday, disclosed that the MPC voted to keep the Cash…

Kingsley Moghalu, a former deputy governor of the Central Bank of Nigeria, has reacted to reports of internal “disquiet” among CBN staffers following the management’s decision to move certain departments to the CBN Lagos office. On 12 January, the CBN through a circular by the director of its human resources department conveyed its plans to decongest its head office in Abuja. “The action plan focuses on optimizing the utilization of other Bank’s premises. With this plan, 1,533 staff will be moved to other CBN…

A former Deputy Governor of the Central Bank of Nigeria, Kingsley Moghalu, has described Godwin Emefiele as “the worst CBN Governor” in the nation’s history. In a series of tweets on Saturday, Mr Moghalu provided an assessment of Mr Emefiele’s tenure, shedding light on various critical areas of concern. He cited Mr Emefiele’s failures in maintaining Naira stability, illegal lending practices, an unlawful presidential campaign, and the mishandling of the Naira redesign policy with disastrous consequences for the…