Why CBN intervenes in critical sectors – Emefiele | The Guardian Nigeria News


The Governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele has reiterated that the focus of the apex bank is to stabilise the macroeconomic sector.

A statement from CBN’s Corporate Communications Department, says that Emefiele said this while delivering a paper at the 40th Anniversary/Convocation lecture of Ekiti State University, Ado-Ekiti on Monday.

The News Agency of Nigeria (NAN) reports that the topic of Emefiele ‘s paper was “The Role of Central Banks in Managing Economic Downturns”.

It was delivered on his behalf by CBN’s Deputy Governor in charge of Corporate Services, Mr Edward Adamu.

He said that the CBN had created various initiatives geared toward building a strong, stable and resilient economy that was self-sustaining and able to weather unanticipated shocks.

According to Emefiele, the Act establishing the CBN envisaged the role of development finance, which the Nigerian context presently demands.

“The intervention of central banks in…

Source: Guardian Newspaper