CBN Governor, Godwin Emefiele • MPC retains key policy rates, naira posts largest daily gain Ndubuisi Francis in Abuja and Obinna Chima in Lagos The Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, is upbeat about the convergence of the foreign exchange (FX) rates on the official and parallel markets, stating that the gains made by the naira against the greenback in the last five weeks were not a fluke. Emefiele’s statement came just as global ratings agency, Standard & Poor’s (S&P), affirmed its ‘B/B’ long- and short-term sovereign credit ratings on Nigeria. S&P also stated that the country’s outlook remained stable. Briefing journalists at the end of the two-day Monetary Policy Committee (MPC) meeting of the CBN, where the key policy rates were retained, Emefiele said he was happy that the central bank’s intervention was yielding positive results. “I am happy, indeed very gratified, that the interventions have been positive, we have seen t...
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