CBN warns against effects of herdsmen and farmers crisis

CBN warns against effects of herdsmen and farmers crisis

- The Central Bank of Nigeria (CBN) has warned against the effect of continuous fight between farmers and herders

- The apex bank warned that the clashes in food producing state may push up food prices

The Monetary Policy Committee Central Bank of Nigeria (CBN) has warned the federal government to curtail the crisis between herdsmen and farmers in Nigeria so as to avoid shortage of food or an increase in food prices.

The CBN governor, Godwin Emefiele, in a two-day meeting held at the headquarters of the CBN in Abuja, urged the federal government to fix the crisis as soon as possible to prevent it from disrupting the nation's economy.

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He said: “The committee took note of the sustained moderation in inflation pressure, especially the headline inflation as well as stability in the foreign exchange market, but expressed concern over the threat posed by incessant herders and farmers’ crises in some key food producing states and the negative impact on some key food supply chains, which would continue to exact pressure on food prices.

“The committee therefore called on the bank to continue to build on the progress already made in arresting the trend to sustain the moderation in food inflation."

PAY ATTENTION: Read the news on Nigeria’s #1 news app earlier reported that a civil society organisation threatened to drag the perpetrators of the herdsmen/farmers crisis across Nigeria to the International Criminal Court (ICC).

The organisation, Save Humanity Advocacy Centre (SHAC), condemned the alleged ongoing politically masterminded killings in Nigeria.

The group, while threatening to drag those behind the bloodletting in the country to the ICC said, the endless clashes between herders and farmers, which has led to loss of lives and valuables worth millions of naira had political undertone.

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