CBN Says 2016 Budget will be difficult to implement

The Central Bank of Nigeria (CBN) says it will be difficult for the Buhari administration to effectively implement the 2016 budget.

The apex bank’s director of Monetary Policy Department, Moses Tute, attributed the envisaged problems to the delay in the passage of the budget.

With the passage of the budget in the fifth month of the fiscal year, the CBN director asked Nigerians not to expect a full implementation of the budget.

He warned that the economic crisis would worsen if the presidency decides to inject all the funds meant for the capital projects into the economy within the remaining seven months of the year.

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