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Vol 60 No 13

Published 28th June 2019


The rise of Godwin Emefiele

As the country awaits a new government, four months after elections, the Central Bank Governor has stamped his authority on economic policy

The importance of Godwin Emefiele, governor of the Central Bank of Nigeria, to President Muhammadu Buhari's plans was clear as he set out his agenda for the next five years in Abuja on 24 June. His key message was that the bank would continue to manage the value of the naira and has no plans to abandon its system of multiple exchange rates, as the International Monetary Fund has advised. This month, the IMF said it was considering a tougher stance towards countries, such as Nigeria and Venezuela, which operate multiple exchange rates.

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