Mr Emmanuel Eze recently advised the CBN to reduce lending rate from 14 to 12 per cent for small businesses to thrive in the country.
“Small businesses will be able to access credit facilities at less than 15 per cent from banks and will expand their businesses within a short time frame”
“The impact on entrepreneurs will be positive so much that they will be employing young Nigerians thereby reducing the unemployment challenges of our society.’’
“In recent times, the economy of our country has been relatively okay as inflation rate has been on decline and there has been improvement in the capital market and rise in foreign reserves caused by increase in oil price.”
“So there is need to reduce the rates to boost small businesses to sustain the exit from recession,’’ he argued.
The CBN Governor, Mr Godwin Emefiele, said that seven members of the MPC were present at the meeting and six members voted for the retention of the rates.
There has been no major monetary policy change in Nigeria since July last year.
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