Nigerian banks remain strong, CBN tells Afreximbank - The Guardian

September 28, 2016
By Chijioke Nelson
The Central Bank of Nigeria (CBN) has reiterated that the nation's Deposit Money Banks are strong despite the ongoing challenges in the foreign exchange market.

CBN Governor, Godwin Emefiele, at the third quarterly meetings of the Board of Directors of the African Export-Import Bank (Afreximbank), in Lagos, yesterday, reaffirmed that the country's banks remained strong.

The reaffirmation may have become necessary, as the regional trade bank appeared to have several business interests in the country, with more recently, a $150 million facility granted Heritage Bank Plc. In a special presentation to the board members, Emefiele outlined the measures CBN and the government had put in place to address the problem of foreign exchange scarcity in the country.He said that although some unpopular policies had been implemented, they were already yielding results.

He gave assurance that the CBN would work with Afreximbank to ensure that there were no challenges in the bank's operations in Nigeria, saying that Nigeria table investment destination.

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Steven Rich
Sep 17, 2018:
Well done

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