The Centre for the Promotion of Private Enterprise (CPPE) has urged the Central Bank of Nigeria (CBN) to ease its tight monetary policies to improve credit access for small and medium businesses.
In a statement on Sunday reviewing Governor Yemi Cardoso’s two years in office, CPPE’s CEO, Dr. Muda Yusuf, said that while reforms under Cardoso had stabilised the financial system and improved transparency, restrictive policies had worsened credit access for key sectors.
He highlighted the high Monetary Policy Rate (27.5%) and Cash Reserve Ratio (50%) as major hurdles for SMEs, manufacturers, and the agriculture sector.
Yusuf commended the CBN for liberalising forex, strengthening governance, and managing inflation, but stressed that structural financing gaps remain unaddressed.
He called for targeted interventions to support long-term and affordable credit, especially for sectors like real estate, construction, and agriculture.
