Governor, Central Bank of Nigeria, CBN, Mr. Olayemi Cardoso and the Minister of Finance and the Coordinating Minister of the Economy, Mr. Wale Edun, have assured investors that the apex bank is committed promoting transparency in the financial sector of the economy.
Speaking at meeting of the Nigerian government delegation and international investors on the sidelines of the ongoing Spring Meetings of the IMF and World Bank in Washington DC, Cardoso said “it is very important that as a central bank, we walk the talk”.
According to him small percentage of intervention from the central bank relative to the forex market” is a positive sign, indicating a well-functioning and transparent market. The introduction of the “B matching system” and a “Code of Ethics” were highlighted as measures to enhance market transparency and integrity. The Code of Ethics involved the leadership of banks signing up to principles aimed at preventing bad behaviour in the market.
He also assured investors and Nigerians in diaspora that difficult reforms that have been undertaken have begun to bear fruit,” adding that “the numbers speak for themselves”.
On optimization of assets, the Minister of Finance, Wale Edun, said “we need to ensure that we maintain fiscal congruence. The mandate of NNPC is to increase production and save cost. We are also diversifying economy.
He said “ we are committed to stabilize the economy so that the private sector will find it attractive to invest.
“Optimization of asset is another route to closing the gap in the budget. The government believes in the sanctity of contracts.”
