Godwin Emefiele, the governor of Central Bank of Nigeria (CBN), is currently, as of the time of writing this report, at the Presidential Villa in Abuja for a meeting with Nigeria’s new President, Bola Tinubu.
Recall that in his inaugural address, yesterday, May 28, Tinubu had urged the Central Bank to work towards a unified exchange rate and had promised to review the naira redesign of the former administration which was implemented by the Central Bank.
In his inaugural speech, he had said:
“Interest rates need to be reduced to strengthen investment and consumer purchasing in ways that bolster the economy at a higher level. Whatever merits it had in concept, the currency swap was too strictly applied by the CBN given the number of unbanked citizens in the country.
“The policy will be reviewed but in the meantime, my administration will treat both currencies as legal tender.”
This would be the third Nigerian president Godwin Emefiele would work under as he had been appointed CBN governor by ex-President Goodluck Jonathan, and again for former President, Muhammadu Buhari who had reappointed him.
