Godwin Emefiele: The Quintessential CBN Governor - THISDAYLIVE via thisdaylive
For an economy like Nigeria’s, it takes the ingenuity of managers to surmount the intractable challenges that are associated with its management. Mr.
Under Emefiele’s leadership, the CBN has recorded many feats, notably attributed to his uncanny ability to think outside the box when faced with the most difficult situation. “For the avoidance of doubt, these items are not banned, thus importers desirous of importing these items shall do so using their own funds without any recourse to the Nigerian forex market,” it added.
“This was the prevailing condition in Nigeria before the introduction of restriction of official foreign exchange for the importation of 41 items. The nation’s foreign reserves stood at $44.7 billion as of April 3, according to the data published by the CBN. It rose to $44.43 billion on March 29 from $43.7 billion on March 22, 2019, representing an increase of $730 million.
In disclosing the inflow figures, CBN’s Director, Corporate Communications, Mr. Isaac Okorafor, stated that out of the total amount, the apex bank purchased about $9.67 billion. The surge in the inflows to the I & E window was attributed to offshore investors’ interest in Nigeria’s fixed income securities.
No wonder that given the success recorded through ABP in rice and maize cultivation, the Monetary Policy Committee last November, recommended that the programme should be applied to other areas such as palm oil, tomatoes and fisheries amongst others. “The CBN recognises that the greatest challenge confronting MSMEs and local farmers is access to credit, and that to unlock the growth potential in our country; these groups must access funding seamlessly.
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