Today, the leadership of the organized private sector of Nigeria (OPSN) met with the Central Bank of Nigeria (CBN) to discuss the escalating challenges facing private businesses in the country.
The Manufacturers Association of Nigeria (MAN) and other Business Membership Organisations (BMOs) presented their case with MAN president, Otunba Francis Meshioye, highlighted the sector’s pressing issues.
These included the invalidation of $2.4 billion in forex contracts, rising inflation, high interest rates, the prolonged forex crisis, the lifting of the 43-item forex restriction, the cumbersome Price Verification System, and bank recapitalization.
CBN Governor Olayemi Cardoso and his team provided clarifications on the recent issues and assured the private sector leaders that the Bank is committed to addressing the economic headwinds.
The meeting concluded on a positive note, with parties agreeing to continue engaging and working together to find solutions to the challenges facing Nigeria’s private sector.