In developed countries, the Agency in charge of the policy making and control of the currency is independent of the government, to a large extent.
But in Nigeria... mbaaah
And that's why somebody like Tinubu can coerce CBN to print more money, if he wants.
Because they aren't independent
Exactly, that's the problem then, why would they be so dependent on the government, Nigeria things will always be different 😂.
That's the problem with developing countries and under developed countries.
In developed countries, these institutions are independent of the Federal Government and they act solely based on policies. But in Nigeria and other developed and under developed countries, the Federal Government has powers to encroach into the activities of those institutions, making them somewhat dependent.
Really so sad it true 😏.