Nigerians may need to brace up for harder times as the Governor of the Central Bank of Nigeria, Godwin Emefiele, has made some gloomy revelations about the country’s economy.
The CBN governor, in a closed-door meeting with the Senate, disclosed that the Federal Government might not be able to pay its workers’ salaries, effective from the end of the year if the current economy decline continues.
Emefiele further stated that if the present situation in the country continued, Nigerians would be forced to pay general taxes, which would not exclude petroleum products.
In the meeting, Emefiele presented a comprehensive account of the economy in the last one year which he said not in a good state.
This report is coming following the recent damning forecast made by the International Monetary fund about the Nigerian economy.
Nigeria’s inflation rate has also hit an 11-year high.