The new Governor of the Central Bank of Nigeria, CBN, Olayemi Cardoso, has said he will prioritise clearing the apex bank’s backlog of unsettled foreign exchange obligations in the near term.
He said this on Tuesday during the screening session of members of the Senate.
He promised to enhance transparency, fix corporate governance, and ensure confidence in the autonomy and integrity of the bank.
The new CBN governor said he would maintain price stability, revert to evidence-based monetary policies, and discontinue his predecessor’s unorthodox monetary policies to bolster the country’s naira currency.
Cardoso’s screening came as the nation grapples with falling economic indices with the naira nearing 1,000/$ at the parallel market.