CBN interventions: Outcomes have justified our approach – Emefiele

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CBN targets $200bn non-oil export revenue

The positive outcomes of the various Central Bank of Nigeria (CBN) interventions in the real sectors of the economy have justified the approach.

The CBN Governor, Mr. Godwin Emefiele, stated this at the opening of the 32nd seminar for Finance Correspondents and Business Editors, in Akure, this afternoon.

His words, “Being a developing economy, our approach to monetary policy must incorporate context. We do this by innovating around the use of available instruments.

“We understand that monetary policy must coordinate well with fiscal policy towards addressing the numerous developmental challenges our nation faces.

“Fortunately, the enabling statute envisages this and empowers us to intervene where and when necessary. Under my watch, the Bank has done this through various development finance initiatives.

“And with the benefit of hindsight now, we can safely say that the outcomes have so far justified our approach.”

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