Buhari Meets With CBN Governor

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Governor of the Central Bank of Nigeria, CBN, Godwin Emefiele, on Thursday met with President Muhammadu Buhari at the Aso Rock Presidential Villa, Abuja.

The meeting which was held behind closed doors is the second of its kind this week after the President was reported to have met with the Attorney General of the Federation, Abubakar Malami and the the NNPC Group Managing Director, Maikanti Baru on Tuesday.

He was however not present at the Federal Executive Council, FEC, meeting on Wednesday, as speculations about his health continue.

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Speaking with State House correspondents after the meeting, Emefiele said he had briefed the President on happenings in the country’s foreign exchange market, adding that Buhari was delighted at the stability in the forex market so far.

He said: “Basically as it is expected what we normally do is from time to time to brief the President about activities about the Central Bank of Nigeria.

“Particularly at this time as it relates to the efforts that the central bank is doing to stabilise the forex market.

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“We briefed him regarding the activities so far and he was very delighted to hear that the market is stabilising at the level that it is right now.

“I am saying the parallel market which currently stabilises at between N380 and N385.”

According to the CBN boss increase in crude oil production and export were the major factors responsible for the stability in the forex market.

Emefiele said that if things continue this way, the country will soon be out of economic recession.

“Given what we have right now the fact that the revenues are looking good, the state of the economy is good and I believe that we are going to pull out of the problem in due course,” he said.

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He reassured that the CBN will always make forex available to those in need to enable them to import or to carry out eligible transactions.

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