Basil Odilim, a development economist, has urged the Central Bank of Nigeria to be redesigned to make way for a low interest rate.

He emphasized at the conference the importance of the CBN being pro-people and pro-economy, particularly when it comes to assisting small enterprises.

The need to redesign the Central Bank of Nigeria is the current problem, he stated. Making the Central Bank of Nigeria pro-people and pro-economic means that we must lower interest rates and flood the market with naira, which would enable small enterprises to borrow the currency at a rate that is incredibly low. In this manner, they are able to operate their enterprises, boost the economy, and pay taxes.

Punch.