For the second time in the history of the country, the president, last weekend suspended the governor of the Central Bank of Nigeria (CBN).
In its latest report titled ‘Macro Thematic Report on President Tinubu’s Policy Imperatives: Likely Economic Impact and Investment Opportunities,’ Afrinvest noted that, Tinubu’s inaugural speech on May 29, 2023, had also raised the hope of market participants.
Olubunmi noted that, “some investors will be neutral until a replacement is announced. In Nigeria at times, we feel something is bad, but will move to a worse position. Some will see it as positive with the expectation that the President will appoint someone that can implement his plan. Recall that the President said all the right things about monetary policy in his inauguration speech.
On the policy’s expected impact on the broader economy, It states that: “Enhance foreign investment and diaspora inflows, support exchange rate stability, deepen the capital market and promote business sustainability and broader economic growth.
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