Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Nairalytics
    • Macro-Economic News
    • Research Analysis
    • Budget
    • Public Debt
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Nairalytics
    • Macro-Economic News
    • Research Analysis
    • Budget
    • Public Debt
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
Nairametrics
No Result
View All Result
Home Opinions Blurb

What Emefiele’s reappointment means for Nigerian economy 

NairametricsbyNairametrics
4 years ago
in Blurb, Business News, Spotlight
Emefiele’s reappointment
Share on FacebookShare on TwitterShare on Linkedin
Nigeria’s CBN Governor Godwin Emefiele has been nominated by President Buhari for a second term in office. The CBN Governor was appointed by former President Goodluck
Jonathan following the sack of Sanusi Lamido Sanusi the current Emir of Kano.
Significance – Emefiele’s appointment makes it the first time a CBN Governor will be running two terms in office since the advent of Democracy in 1999. Professor Soludo and HRH Sanusi Lamido Sanusi only spent a term each respectively.
Potential consequences – Emefiele’s appointment comes with its positives and negatives.
Positives
  • Stability in the banking system as he is likely to continue with his policies.
  • This also suggests banks won’t be rattled anytime soon except they perform woefully like the defunct Skye Bank
  • Continuing with the CBN developmental programs which will favour farmers and targeted SMEs.
  • Exchange rate stability as a strategy is likely to persist provides oil price remains flat. The CBN Governor is not ready to float the naira fully.
  • Policy implementation for FinTech will continue. The next four years might be the beginning of the end of brick and mortar banking.
  • Continues with the policy on the ban of forex allocation for 41 banned items. This will be good news for local industries benefitting from the bank.
Negatives
  • Just as some benefit from the banning of the 41 banned items, most will suffer from it. Industries that require raw material inputs included in the ban list will have to grapple with the obvious reality.
  • Importers of goods and services listed on as banned items will also continue to face the impact of lost revenues. The trade industry has been in recession since 2016
  • The Nigerian Stock Market is still reeling from the foreign investor apathy towards listed stocks. This is mainly because of the distrust they have for the management of the exchange rate.
  • Independence of the CBN might be further eroded during his tenure. Critics have often cited frequent interference by the executive branch on activities of the CBN.
What next: Once his nomination is confirmed, Mr Emefiele will resume his second term starting in July 2019 and serve till 2024. He would have also served at least 3 Presidents (GEJ, PMB and the winner of 2022 elections).

Related

Tags: CBN GovernorGodwin Emefiele

Comments 1

  1. Michael Okpara says:
    May 10, 2019 at 8:00 am

    Good for him

    Reply

Leave a Reply Cancel reply

HFM
Mega Millions
Mega Millions
Patricia





NM newsletters

Business News | Stock Market | Money Market | Cryptos | Financial Literacy | SME |

Recent News

  • Just in: Emefiele insists the CBN is not considering extending deadline for swapping naira notes
  • Traction Launches Business Solution Suite, Grow with Traction To Support MSMEs
  • FG says Apongbon Brdige will be reopened to traffic in May

Follow us on social media:

Recent News

CBN embarks on unconventional moves to beat January 31 deadline

Just in: Emefiele insists the CBN is not considering extending deadline for swapping naira notes

February 3, 2023
Traction Launches Business Solution Suite, Grow with Traction To Support MSMEs

Traction Launches Business Solution Suite, Grow with Traction To Support MSMEs

February 3, 2023
  • Home
  • Exclusives
  • Markets
  • Industries
  • Economy
  • Business News
  • Financial Literacy
  • Lifestyle
  • Opinions

© 2023 Nairametrics

No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Nairalytics
    • Macro-Economic News
    • Research Analysis
    • Budget
    • Public Debt
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds

© 2023 Nairametrics