Chairman, Institute of Bankers charges media houses against inflammatory headlines on momentary and economic policies
The Chairman, Chartered Institute of Bankers of Nigeria Prof. Uche Uwaleke, has said that most of the CBN policies, either expansionary or retractive on monetary policies seem not to work in curbing inflation in Nigeria.
He made this remark in his keynote address during the four-day retreat organized by the Correspondents’ Chapel of Nigeria Journalists, Akwa Ibom State chapter, at Roses Regency Hotel and Suites, Wuye, Abuja.
In a nine-point Communique issued by the Chapel and made available to journalists in Uyo, the Akwa Ibom State capital, he opined that such policies cannot work in controlling cost-push inflation because of the high cost of production and services including diesel, gas, transportation, energy, insecurity among others
The communique was jointly signed by Dr Joe Effiong and the chairman of the chapel, Idongesit Ashameri.
Speaking on a sub-theme, ‘The Place of the Media in Shaping Monetary Policies for Better Economy’, Uweleke called on the Central Bank of Nigeria to ensure the prompt release of adequate and timely information to the media for onward dissemination to the public. He warned the media against inflammatory stories on the monetary economy.
“Since the extent to which the public understanding of the CBN Monetary Policy is dependent on the quality and quantity of information made available to the media, the CBN should ensure that it provides the media with adequate and timely information for onward distillation to the public”
“That the media should guard against alarmist or inflammatory headlining of stories on monetary and economic policies of the nation so as not to cause panicky activities in the economy, which could lead to an avoidable rise in inflation”, he said.
Other topics treated at the retreat included among others “The Role of the Media in Budget Tracking, by Tijah Akpan, CEO, Policy Alert and Safety and Security of the Media in a Volatile Environment by CSP Vanderfan James Tersugh (retd).
