GOVERNOR of the Central Bank of Nigeria (CBN), Dr Godwin Emefiele, has attributed the success story recorded by t banks in recent times to the adoption of heterodox macroeconomic policies. Emefiele posited that the favourable outcomes and strengthening outlook of the Nigeria economy is traceable to the timeous adoption of non-traditional policy methods. He, however, noted that much of the success recorded by the CBN today is due to the adoption of heterodox macroeconomic policies. Emefiele added that: “Our overall aim remains the concurrent attainment of price stability, real growth, full employment and poverty reduction.”The CBN governor further said that the apex bank had been able to reduce inflation, build Nigeria’s Foreign Exchange reserves, maintained Foreign Exchange market stability and foster real growth. He also hinted that the pace of population growth at about 2.6 per cent still outstrips real growth rate while inflation is outside tolerance band.

Source: Nigerian Tribune May 25, 2019 11:19 UTC