The role and performance of the Central Bank of Nigeria (CBN) and its governor, Godwin Emefiele, did feature in the election campaigning...
Discreet prodding from politicians is legitimate (and universal) but the central bank must be seen to set the agenda. Returning to Nigeria, the election manifesto of the victorious APC pledges to “preserve the independence of the central bank”. Discreet prodding from politicians is legitimate (and universal) but the central bank must be seen to set the agenda That said, the president has placed family and close allies in the finance ministry and central bank to impose his thinking. In mid-February he argued that the policy (Selic) rate of 13.75 per cent was too high and the bank’s inflation target of 3.25 per cent was too low. The role and performance of the Central Bank of Nigeria (CBN) and its governor, Godwin Emefiele, did feature in the election campaigning.
By Eric Teniola. I ATTENDED an event recently in Lagos and Chief Joseph Oladele Sanusi (84) from Ogbagi in Akoko North West Local Government of Ondo State, ...
On Saturday, May 29, 2004, Chief Sanusi’s tenure as the governor of Central Bank of Nigeria was to end. During the tenure of Chief Sanusi as Governor of Central Bank of Nigeria, he encouraged collaboration with his deputy governors —Mr Oluwole S. The major regulatory objectives of the bank as stated in the CBN Act are to: maintain the external reserves of the country, promote monetary stability and a sound financial environment, and act as a banker of last resort and financial adviser to the Federal Government. The central bank’s role as lender of last resort and adviser to the Federal Government has sometimes pushed it into murky regulatory waters. I had to tell a friend of mine who sat next to me that, that is the eighth governor of the Central Bank of Nigeria, CBN. My friend then asked me: “Was he governor under the military?” And I replied negative, but added that he was the Central Bank governor between 1999 and 2004 under President Olusegun Obasanjo.