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Senate hails CBN, Emefiele’s management of the economy

By Mayowa Okekale, Abuja on 20/01/2016

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For the Central Bank of Nigeria (CBN) and its Governor, Godwin Emefiele, it was a vote of confidence after the Executive Session held between the Governor and Senators yesterday afternoon at the National Assembly Complex in Abuja.

The Upper Chamber expressed satisfaction with the policies of CBN under Emefiele’s watch, stating that the policies of the apex bank are aimed at expanding economic opportunities and stimulating the growth of the country.

Addressing journalists at the National Assembly after the closed door session, Senate Spokesperson Abdullahi Sabi said: “The analysis by the CBN showed that Nigeria is not doing badly in many macroeconomic indices, when compared to its peers.”

Continuing, he said: “Having carefully considered the policies of the CBN, the Senate would like to commend and support these policies because they are mostly geared towards increasing local production, creating jobs here in Nigeria, safeguarding our commonwealth, and expanding economic opportunities and growth in Nigeria.”

Senator Sabi disclosed that after Emefiele’s presentation, “many distinguished senators asked a lot of pertinent questions and raised issues concerning the health of the banking system, the stoppage of sales of foreign exchange to BDCs, gradual rise in inflation, fall in foreign exchange reserves, exclusion of some items from access to foreign exchange, and policy coordination between the fiscal and monetary authorities.”

•Photo shows CBN Governor Emefiele.

Source News Express

Posted 20/01/2016 11:10:32 AM

 

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