Reps seek committee on fiscal, monetary policies

The House of Representatives Committee on Customs and Excise has proposed the establishment of a tripartite committee comprising the Central Bank of Nigeria, the Ministry of Finance, and the Nigeria Customs Service.NYSC Portal

This committee would work together to create a coordinated platform for fiscal and monetary policies in Nigeria.JAMB Portal

The Chairman of the Committee, Leke Abejide, made this call during an interactive session with the Comptroller General of the Nigeria Customs Service, Adewale Adeniyi. Additionally, Abejide emphasized the importance of implementing the House resolution that mandates a 90-day notice for any policy change. This measure aims to keep investors and importers informed and prevent uncertainty regarding policy changes.informationguidenigeria

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He said, “Considering the complex interplay between fiscal and monetary policies and their impacts on trade, I would like to propose the formation of a tripartite committee comprising representatives of CBN, the Federal Ministry of Finance, and the Nigeria Customs Service.

“This committee will serve as a platform for open and transparent dialogue on fiscal and monetary issues as they affect trade, ensuring thorough discussion and analysis of crucial decisions before their implementation.JAMB Result

“Such collaborations will facilitate a more robust and coordinated approach to trade policies, mitigating potential disruptions and fostering a conducive environment for economic growth.

“Just last week, investors woke up only to discover that the exchange rate had been raised from N784 to N951 per dollar without any notice.

“I suggest implementation of the House of Representatives resolution of the 9th Assembly, requiring a 90-day notice for policy changes.

“This approach will allow ongoing transactions to conclude smoothly, minimizing economic distortions and inflationary pressures”.

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