Mr Chukwu, Cowry Asset Management Ltd. boss, said this in an interview on Wednesday in Lagos.
He said Nigeria must also ensure increased productivity in agriculture and in other sectors to fight the rising inflationary rate.
“I have argued repeatedly that CBN can order the commercial banks to pay as much as N100,000 over the counter.”
One of the experts advocated for the establishment of state police to tackle the situation.
The DMO chief said the international market had closed its doors to borrowing, making it difficult for Nigeria to borrow.
