New cbn governor
You're referring to the recent appointment of a new Governor of the Central Bank of Nigeria (CBN).
As of March 2023, the new Governor of the Central Bank of Nigeria is Godwin Emefiele. He was reappointed for a second term as the Governor of the CBN by President Muhammadu Buhari on May 15, 2023.
Emefiele has been the Governor of the CBN since June 2014, and his reappointment is expected to bring stability and continuity to the country's monetary policy. Under his leadership, the CBN has implemented various initiatives aimed at promoting financial inclusion, stabilizing the naira, and supporting the growth of the Nigerian economy.
Some of the key policies and initiatives implemented by Emefiele during his first term as Governor include:
- Cashless Policy: The CBN introduced a cashless policy to reduce the use of cash transactions and promote electronic payments.
- Treasury Single Account (TSA): The CBN implemented the TSA to consolidate all government accounts into a single account, improving transparency and accountability.
- Monetary Policy Rate (MPR): The CBN reduced the MPR to stimulate economic growth and reduce inflation.
- Foreign Exchange Policy: The CBN introduced a flexible foreign exchange policy to stabilize the naira and promote foreign investment.
- Agricultural Development: The CBN implemented various initiatives to support agricultural development, including the Anchor Borrowers' Program and the Agricultural Credit Guarantee Scheme.
Under Emefiele's leadership, the CBN has also taken steps to address the challenges posed by the COVID-19 pandemic, including the provision of emergency loans to small and medium-sized enterprises (SMEs) and the implementation of measures to support the agricultural sector.
Overall, Emefiele's reappointment as Governor of the CBN is expected to bring continuity and stability to the country's monetary policy, and his experience and expertise will be crucial in navigating the challenges facing the Nigerian economy.