The new Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso has said plans are in motion to formally unveil his agenda for the monetary and financial sector.
CBN Governor disclosed this while addressing a group of investors in his office on Thursday.
Cardoso said that the CBN will do all within its powers to address identified distortions and ensure a conducive atmosphere for different categories of investors.
He noted that the new management team at the helm of affairs at the apex bank will do its best to tackle the impediments to liquidity in the foreign exchange market in Nigeria.
Speaking specifically to the liquidity management, Cardoso said that his team will devise a short-term goal that would address “structural issues within the financial system that gave rise to the liquidity challenge in the first instance.
To achieve this, he said that the CBN would focus on strengthening its data-gathering system to ensure that only verifiable data will be relied upon for evidence-based decisions.
He said that the CBN, under his watch, would adhere to rules that are known, acceptable and transparent for the conduct of monetary policy.
On the relationship between the monetary and fiscal authorities, the CBN Governor said that there would continue to be consensus between both authorities to harmonise their positions on the interest rate and inflation.
He, however, said that the apex bank would remain open to different views in its push for greater transparency.
