Business Hilights

Tracking Nigeria's Headline Business News Online


How tight monetary policy intelligence earned CBN Forbes award

Ad 2
Ad 3

Considering the Governor of the Central Bank of Nigeria’s (CBN), successful trail of the fragility and threatening developments in the Nigerian economy this year, the Forbes Magazine has conferred to the Governor, Mr. Godwin Emefiele, with the 2017 Forbes Best of Africa Innovative Banking Award.

Explaining more on the reasons behind the award, the President of Forbes Customs Emerging Markets, Mark Furlong, who presented the award, revealed that it was in recognition of Emefiele’s courage and determination in using monetary policy to ensure financial stability in Nigeria that the award was given to him.

The presentation was done on the sidelines of the just concluded World Bank/International Monetary Fund 2017 annual meetings in Washington DC, United States last week.

Furlong also linked the award to CBN’s show of transparency in steering the economy away from recession in record time.

According to Forbes, Emefiele’s timely and tailored interventions in the real sector of the economy, particularly in the Anchor Borrowers’ Programme,which is currently driving Rice backward integration and other rising productivity in agriculture.

Earlier in his submissions, Emefiele averred that his leadership at CBN in the last three year has stabilised Nigeria’s financial system and protected the international value of the naira.

He said “I think, what is most important here is to thank Nigerians for standing with us, particularly during the very difficult times. I say difficult times then, although I make bold now to say we are out now,” the CBN governor said.

“Like you all know, the last three years has been tumultuous, not just for Nigeria, but the global economy; arising largely from the external shocks that hit particularly the commodity exporting countries,” Emefiele disclosed.

Commenting shortly after the award presentation, the President of Corporate Council on Africa, Florizelle Liser, expressed the happiness of the group on the achievements of the CBN governor, saying “there are foreign investors that are interested in agriculture in Nigeria”.


Business Hilights is an online news channel conceptualized and structured to report and track on a daily basis; latest developments in critical business sectors to serve as a one stop news gateway for governments, foreign and indigenous investors.