Meanwhile, the former Governor of the Central Bank of Nigeria, Lamido Sanusi, has advised the incumbent governor of the apex bank, Olayemi Cardoso, to adopt strategic measures that will drive down the rate of inflation in the country.

Inflation has continued to accelerate in recent months and is currently at 26.72 percent as of September 2023.

Sanusi urged the new leadership at the CBN to work persistently to drive down the inflation rate, adding that it was negatively affecting individual wealth.

He also acknowledged the importance of long-term planning by the CBN in achieving its goals.