***Redeploys Eight Directors
By Tony Obiechina, Abuja
The Central Bank of Nigeria (CBN) has reaffirmed its commitment to achieving monetary and price stability in the Nigerian economy.
CBN Governor, Mr Olayemi Cardoso who stated this in his keynote address at the 58th Annual Bankers Dinner in Lagos pointed out that the bank’s policies are geared towards ensuring a more stable exchange rate, controlling inflation, and creating an enabling environment for businesses and individuals to thrive.
He said, “Our commitment to achieving monetary and price stability is not just a technical objective, but it has real-life implications for the well-being of our citizens.
“Through targeted policies, transparent market operations, and coordination between monetary and fiscal authorities, we can ensure a more stable exchange rate, control inflation, and create an enabling environment for businesses and individuals to thrive”.
The 58th Annual Bankers Dinner, held at the Eko Hotels Lagos, also marked the grand finale of the Chartered Institute of Bankers of Nigeria’s 60th Anniversary, which underscores its six decades of commitment to professionalism, integrity, and innovation in the banking and finance sector.
Cardoso in his address also highlighted the importance of good corporate governance in underpinning financial stability and supporting economic growth.
“Under my leadership, the Central Bank of Nigeria will tackle institutional deficiencies, restore corporate governance, strengthen regulations, and implement prudent policies.
“We assure investors and the business community that the economy will experience significant stability in the short-to-medium term as we recalibrate our policy toolkits and implement far-reaching measures”.
Meanwhile, the new CBN helmsman in line with the renewed vision of the apex bank is to have ordered the deployment of eight directors to the Financial Sector Surveillance (FSS) Department in the Maitama office.
The decision has raised concerns among staff members who fear that it could be a prelude to more redeployments and possibly layoffs. READ ALSO:
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The FSS Department is often seen as a less prestigious posting within the CBN, and the redeployment of eight directors there has been likened to being sent to “Siberia.”
The move has fueled speculation that the CBN is under pressure to re-jig its workforce and more redeployment could be in the offing.
The redeployment which began over two weeks ago is said to have generated anxiety among other staff members of the bank.
