IMF Boss Tasks Emefiele On Economic Growth, Hails New Tenure As CBN Gov

BY EDMOND ODOK, ABUJA – The Managing Director of International Monetary Fund (IMF), Ms Christine Lagarde has challenged the Central Bank of Nigeria (CBN) Governor, Mr. Godwin Emefiele to focus his second term on driving policies that impact positively on Nigeria’s economy for sustainable growth.

According to her, Emefiele’s reappointment is critical in the current efforts to recalibrate the Nigerian economy for development and the overall good of its citizenry.

In a letter congratulating Mr Emefiele on his second five year term endorsement by President Muhammadu Buhari, the IMF boss said the reappointment is coming at a key moment when Nigeria has the opportunity to take important steps to strengthen the economy and ensure its growth on a sustainable basis.

Dated June 18, 2019, the letter also said the new tenure should serve as the needed tonic to improve the living standards and welfare condition of all Nigerians going forward.

The Managing Director, therefore pledged the IMF’s resolve to continuously partner with the CBN in driving Nigeria’s monetary policies in the positive direction, saying; “We look forward to continuing our close collaboration with you and your colleagues and supporting the Central Bank of Nigeria in dealing with the key challenges of ensuring macroeconomic stability and safeguarding the development of a sound financial sector.”

“I wish you every success in your endeavors”, Ms Lagarde said in her message.

A former Managing Director of Zenith Bank, Mr Emefiele, first mounted the saddle as the apex bank’s governor in 2014 following the exit of his predecessor and current Emir of Kano, Alhaji Muhammadu Sanusi II, from the CBN in controversial circumstances during Godluck Jonathan’s Presidency

In a move that took most financial sector stakeholders and analysts by surprise, President Buhari, on May 8, 2019, re-nominated and submitted Mr Emefiele’s name to the Senate for confirmation.

And against all odds, the upper legislative chamber did a speedy job by obliging Mr President’s request on May 16, even as it noted that the CBN governor had demonstrated outstanding performance during his first term in office that ended on June 2, 2019.