ECWA commends CBN over stability, appreciation of Naira against other currencies

The Evangelical Church Winning All (ECWA) has commended the Central Bank of Nigeria (CBN) for its monetary policy that significantly stabilised the naira against other currencies, particularly the dollar.

ECWA gave the commendation in a communiqué issued at the end of its 71st General Church Council, held in Jos, between Monday and Friday.

The communiqué read by Rev. Dr. Stephen Panya, ECWA President, stated that the council observed with satisfaction the recent proactive measures taken by CBN to checkmate the devaluation of the naira.

The Church called for the continuation of the efforts to help curb inflation and reduce the cost of goods and services since Nigeria is an import-dependent economy.

The council, however, noted with concern the biting hunger among citizens as a result of a shortage of food supplies due to persistent insecurity.

According to them, activities in rural communities where food is produced in large quantities have been paralysed.

“The council urges the federal and state governments to urgently act decisively to put measures in place to checkmate the insecurity and ensure farmers resume their farming activities.

“The Council observes that subsidy removal on petroleum products and an increase in electricity tariffs have affected the cost of goods and services in the country.

“Therefore, the government should put in place appropriate mechanisms to reduce the hardships of the citizens,” it said.

The Church then called for religious tolerance among people of different faiths across the globe.