Even if supply-side constraints cause supply shortages, firms will avoid making hasty decisions – such as raising prices of their products – that may result in losing customers, if firms judge the supply shortages to be temporary. On the other hand, if downside risks to the economy materialize, leading to a prolonged economic downturn, prices will be affected accordingly.
The CBN effort at strengthening the support of all stakeholders is to recognize the fact that to address the compliance issue on money laundering and other financial crimes, support must be given by all the regulatory and supervisory institutions.