He stated this while responding to questions from journalists shortly after the two-day Monetary Policy Committee meeting held at the apex bank’s headquarters in Abuja. The CBN governor stated that with the processes so far put in place to get new owners for the company, a new investor would emerge before the end of the year. Meanwhile the MPC left the Monetary Policy Rate unchanged at 14 per cent. Emefiele explained that eight members of the committee agreed to maintain the current monetary policy stance. On the decision to retain the current monetary policy stance, Emefiele explained that this was done to allow the success so far made with the retention of the rates to normalise.

Source: Punch November 21, 2017 23:03 UTC