In Nigeria, the new CBN governor, Godwin Emefiele begins his tenure at the helm of affairs. The appointment of the new governor CBN had been confirmed the Senate some months ago following the suspension of former governor, Sanusi Lamido. The former governor has been a regular at different courts in Nigeria after he was suspended by Federal government .He was supposed to keep an appointment with industrial court after his case was referred there by a high court. The court had decline jurisdiction on his case saying the matter was between an employer and employee.
Many economy watchers are hopeful that the many mistakes that the former governor made will not be repeated by thge new governor. It is hoped that the CBN will be restored to his pride of place of making sound monetary policies and price stability.
The finance world awaits the resumption of new governor due to its significance on the direction of Nigerian monetary system. Some believe that Emefiele's style might be to study the situation for some months before rolling out his plans. Some believe that coming from the banking sector, there will be stability in the sector for some time to come. The changes he might bring will be done steadily unlike his predecessor. I expect stability in MPR and CRR for public and private sector.The exchange rate should remain stable too. I expect banks stocks on Nigerian stock market to be bullish for remainder of the year.
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