Forex Crisis: Nigeria’s DMBs Still Reliable, CBN Assures Afreximbank
Godwin Emefiele – Governor of the Central Bank of Nigeria[/caption]
The Central Bank of Nigeria (CBN) has reassured African Export-Import Bank (Afreximbank) that the nation’s deposit money Banks are still resilient despite the ongoing economic challenges in the foreign exchange market.
CBN Governor, Godwin Emefiele, confirmed this at the third quarterly meetings of the Board of Directors of Afreximbank on Wednesday in Lagos, yesterday, stating that the country’s banks remained reliable.
The reaffirmation may have become necessary, as the regional trade bank appeared to have several business interests in the country, with more recently, a $150 million facility granted Heritage Bank Plc.
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In a special presentation to the board members, Emefiele outlined the measures CBN and the government had put in place to address the problem of foreign exchange scarcity in the country.
He said that although some unpopular policies had been implemented, they were already yielding results.
He gave assurance that the CBN would work with Afreximbank to ensure that there were no challenges in the bank’s operations in Nigeria, saying that Nigeria table investment destination.
The Afreximbank President, Dr. Benedict Oramah, expressed the bank’s appreciation for the opportunity to hear directly from some of the most important actors in the Nigerian economy, saying that a strong Nigeria also means a strong Africa.
