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| Godwin Emefiele |
GOVERNOR of Central Bank of
Nigeria (CBN), Mr. Godwin Emefiele on Friday emerged as the President of the
Assembly of Governors of the Association of African Central Bank Governors
(AACB) for the 2016 – 2017 year.
Emefiele was elected at the
end of the 39th Ordinary meeting which ended in Abuja on Friday alongside Banque
de la Republique du Burundi as Chairman of the East African Sub-region and
Governor of the Central Bank of the Kingdom of Swaziland as Chairman of the
Southern African Sub-region.....
In the same vein, the
Governor of the Bank of Ghana was elected to run the affairs of the Bureau for
the period as chairman of the West African sub-region with Governor of the
Central Bank of Mauritania, Chairman of the North African sub-region; and the
Governor of the Bank of Central African States, Chairman of the Central African
Sub-region.
In a communique issued at the
end of the meeting, the Assembly of Governors emphatically stressed the
necessity for African countries to diversify their economies and improve
exports, rather than the excessive imports that have so far limited the
continent from exploring its potentials to compete with the global community as
well as the urgent need for coordination between monetary and fiscal policy
across all African countries.
Also prominent among
positions taken at the meeting was the stimulus for African countries to
strengthen efforts at implementing structural reforms in order to diversify
their respective economies, improve the business environment and promote
intra-regional trade as a way of strengthening pliability amidst external
shocks.
Meanwhile, the statement
indicated that the nomination for the Vice Chairman of the AACB, which is zoned
to the South African Sub-region, would be done at a later date.
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