By Emma Ujah, Abuja Bureau Chief
The lack of proper coordination between the nation’s fiscal and monetary authorities has become manifest as the Central Bank of Nigeria CBN,Tuesday refused to cut interest rate, as expressed by the Minister of Finance, Mrs. Kemi Adeosun .

The Governor of the CBN, Mr.Godwin Emefiele, who briefed the press at the end of the Monetary Policy Committee ( MPC), meeting in Abuja, said that rate cuts in the past did not result in banks giving credits to the real sectors of agriculture and manufacturing, as instructed.

He said a cut in the rate at a time the inflation is rising could worsen the nation’s economic situation.

Details later…