Nigeria: Rethinking the CBN's Mandate

Malaysia holds lessons for Nigeria, writes During a recent academic study tour of key financial institutions in Malaysia with some of my Ph.D students from Nasarawa State University, Keffi, I had the opportunity to visit Bank Negara Malaysia (BNM), the Central Bank of Malaysia, where senior officials made presentations on the Bank's mandate and institutional framework. What particularly caught my attention was the positioning of sustainable economic growth as the ultimate objective, with monetary stability serving as an important means towards achieving that broader objective. I was equally struck by the emphasis placed on enhancing the financial well-being of households and businesses as one of the Bank's strategic thrusts. These aspects of the Malaysian framework prompted me to reflect o