Skip to main content

Emefiele gives insight, on what to Expect during his second term


Image result for godswill emefiele

 The newly re-appointed Governor of the Central Bank of Nigeria, Godwin Emefiele, over the weekend enumerated the things intends to accomplish during his second term in office.
Emefiele enumerated his plans while speaking to journalists at the University of Nigeria Nsukka (UNN), on the sidelines of the institution’s Special Convocation which took place on Friday. The CBN Governor gave delivered a lecture at the event.
Driving down inflation: According to Emefiele, he intends to focus on policies that would drive down the country’s inflation rate, improve price stability, and drive economic growth.
Emefiele’s Stern Warning: The CBN Governor further disclosed that he plans to work with his team to drive down imports and encourage exports. He also used the occasion to issue a stern warning to those who meddle with policies aimed at achieving economic stability, telling them that they will be caught and punished by law.
Mr Emefiele’s second term plans came just a few days after the Senate confirmed his re-appointment on Thursday to run for a second term.
Mr Emefiele’s Lecture: The CBN Governor, who was also conferred with an Honorary Doctorate Degree in Business Administration at the conversation, delivered a lecture titled” From recession to growth: the story of Nigeria’s recovery from 2016 economic recession.” He disclosed the following during the lecture;
  “YES, WE AGREED THAT THE GROWTH NUMBERS ARE GOOD, WE HAVE CHECKED INFLATION AND BROUGHT INFLATION DOWN. I THINK IN THIS NEXT PHASE, WHAT CAN WE DO TO CONSOLIDATE OUR GROWTH? HOW CAN WE AS MONETARY AUTHORITY DO SOMETHING? YES, WE ARE TALKING ABOUT PRICE STABILITY, WE MUST DO SOMETHING TO IMPROVE GROWTH.
“WHAT DID WE DO TO BRING INFLATION DOWN? WE MUST CONTINUE TO DO THAT. WHAT DID WE DO TO REDUCE OUR IMPORTS? WE WILL CONTINUE TO DO IT.”
Nairametrics earlier reported on the functions of the CBN Governor, one of which include- advising the president on both fiscal and monetary policies from time to time.
Note that the CBN Act of 2007 stipulates that the Governor is expected to formulate, for the approval of the Board, general rules and any subsequent amendments.

Source: Nairametrics  


Join us on Whatsapp for instant updates

Comments

Post a Comment

Popular posts from this blog

Alert: Naira Gains A Massive 5% Against the Dollar

The exchange rate rebounded on Friday to close at N308 at the official interbank market. The local currency gained about 5.2% reversing the N325 it closed with on Thursday. According to reports, the gains was mostly due to a sale of forex by the Central Bank of Nigeria providing enough liquidity to meet the demand currently in the market. The naira has closed at an all time low of N364 to the dollar on Thursday following a surge in demand. The central bank has been selling dollars almost daily to boost liquidity and support the naira. Join our BBM channel for instant updates : C0030863D
Post a Comment
Read more

How to overcome procrastination: this will help you!!!

And so I came across this write up by Gennaro Cuofano, and I thought it wise to share  I do not understand why procrastination is perceived as a very bad thing. I honestly don’t know about you but thank god I am a procrastinator. If it weren’t so right now I would be a fat smoker and a lonely man. If I am not fat is because most of the time I procrastinate in eating food that is unhealthy for me. If I am not a smoker is because I procrastinate in taking another bad habit, which would make me go out during the night to buy a package of cigarettes. If I am not lonely is because each time I am pissed at someone I procrastinate in f***ing them off. I actually wish I was a better procrastinator. If it were the case I would be a much better person than I am. But I am not and I am working on it to become the world’s top procrastinator! Procrastination is a blessing. We have evolved in an environment with limited resources and our body and mind too is the result of a...
Post a Comment
Read more

BOOM: Nigeria’s External Reserves Drops To Lowest In 11 Years

Nigeria’s foreign exchange reserve fell to $25,780,765,483 (25.78 billion) as of August 16, the lowest we have seen since 2005. The drop was down 2.11% from a month ago. The Nations external reserves dropped below $26 billion for the first time on the 5th of August 2016 after it closed at about $25,971,610,949. In fact, the external reserves has dropped by about $480 million dollars in August alone compared to just $100 million in the whole of July. Ironically, the current balance of $25.9 billion is worth about 80% more than what it was in Naira following the depreciation of the naira after it was floated. The CBN has in the past few days ramped up sales of dollars at the interbank in the hope that it will create liquidity in a market that is yawning gape to swallow forex after nearly almost two years of intense rationing by the CBN. The Naira weakened to its lowest ever at the interbank after it closed at about N362.5/$1 in midday trading. The Naira will eventua...
Post a Comment
Read more