The Governor of the Central Bank of Nigeria, Mr. Godwin Emefiele, on Wednesday said that the improvement in economic performance, which was confirmed by the report of the country’s exit from recession, would enable the apex bank to bring down interest and inflation rates, as well as ensure stability in the foreign exchange market.
Emefiele, while speaking at the opening session of a workshop on ‘Import substitution and the dynamics of interest and exchange rates management in Nigeria’, explained that the apex bank would continue to explore further avenues to ensure that interest rates were supportive of domestic production needs.
As part of measures aimed at supporting the growth and development of the economy, the CBN governor told participants at the workshop that the bank would continue to fine-tune measures to guarantee a stable exchange rate regime for the economy.
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