Emefiele To Begin Terminal Leave As CBN Governor

Emefiele To Begin Terminal Leave As CBN Governor

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Post Views: 388 The head of Nigeria’s central bank is likely to exit in June and would take leave from this month before stepping down at the end of h...

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The head of Nigeria’s central bank is likely to exit in June and would take leave from this month before stepping down at the end of his five-year term, a move that could alter the path for interest rates and the currency, sources said on Monday.
Godwin Emefiele has kept interest rates high at 14% for over two years to tighten liquidity and support the naira after a crisis forced the central bank to devalue the currency. The bank has since introduced multiple exchange rates to prop up the naira.
It was not clear when Emefiele’s replacement would be appointed but central bank governors in Nigeria typically go on a 3-month leave before the end of their tenures. The central bank declined to comment.

Source: Reuters

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