Sacking of the CBN Governor Good for Nigeria?

Sacking of the CBN Governor Good for Nigeria?

Financial Experts Laud FG’s Nomination Of New CBN Governor

— February 20, 2014

Financial experts on Thursday commended the Federal Government for the nomination of the Managing Director of Zenith Bank, Mr Godwin Emefiele, as Governor of Central Bank of Nigeria (CBN).

They made the recommendation in separate interviews with the News Agency of Nigeria (NAN) in Lagos.

Mr Victor Ogiemwonyi, the Managing Director of the Partnership Investment Company Ltd., said that Emefiele’s nomination would have positive impact on the economy.

“The choice of the Godwin Emefiele, the MD of Zenith Bank, for the job of the CBN Governor is a welcome development in the banking industry,” he said.

Ogiemwonyi, also an economist, said that the next governor should maintain the Lamido Sanusi’s monetary stance, especially in the area of stabilising the Naira and reducing the inflation rate.

“The monetary policy direction should not change. The economy needs policies that will stabilise the Naira and starve off inflation.’’

“A tight monetary policy in the short term will ensure positive development in the nation’s economy,” he said.

The Managing Director of HJ Trust and Investment, Mr Harrison Owoh, said the president was at liberty to appoint any competent person as CBN governor.

Owoh, however, said that he could not comment on Emefiele’s nomination but could do so later after the bureau de change operators might have met after Friday’s transaction.

“I can only comment on him after his appointment as the substantive CBN governor and the effect of his policies on the market,” Owoh said.(NAN)

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