CPPE Urges CBN to Boost SMEs with Flexible Monetary Policy and Credit Support
The Centre for Promotion of Private Enterprise (CPPE) has urged the Central Bank of Nigeria (CBN) to ease the Cash Reserve Ratio (CRR) and cut the Monetary Policy Rate (MPR) to boost credit flow to small and medium enterprises (SMEs). CPPE CEO Muda Yusuf emphasized the need for a more flexible monetary policy to support SMEs, which are crucial for Nigeria's economy.
The call for a credit guarantee scheme and concessionary financing programs tailored for SMEs aims to bridge the credit gap and stimulate growth in sectors like agriculture, manufacturing, and renewable energy. The CPPE commended CBN Governor Yemi Cardoso for his efforts in transforming Nigeria's financial system.
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