10 key points from the Central Bank Governor, Dr Yemi Cardoso’s interaction on the sidelines of the IMF Spring Meetings in Washington DC:
– Dr Cardoso reassures CBN’s committeement in rebuilding trust of investors.
– Era of interventions from the Apex Bank are over.
– CBN will continually drive towards mopping liquidity.
– Hiking of interest rates is a catalyst to reducing inflation.
– Communication mechanism of the apex bank to be strengthened.
– The CBN Governor acknowledged the solid partnership being established between the fiscal and monetary sides.
– CBN is not defending the Naira with Nigeria’s Foreign Reserves.
– The little depletion of our foreign reserves could be attributed to payment of certain commitments and debts servicing.
– CBN will always facilitate Willing Buyer/Willing Seller basis and real price discovery in the foreign exchange market.
– The Governor commended the Federal Government for its strong understanding to get Nigeria out of a difficult situation.
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