Emefiele in UK to woo investors – Today.ng

The Governor of Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, flew to Britain and the United States last week to lure back investors scared off by the plunge in oil prices and resulting financial turmoil, a CBN official said on Friday.

The central bank last month bowed to foreign pressure to remove the 16-month-old 197-per-dollar peg on the naira it had brought in to try and control its fall as crude prices plummeted.

Investors welcomed the move, but many said they were still steering clear until Africa’s biggest economy shows signs of concrete recovery.

Trade has been thin and dollar liquidity tight, leaving the central bank as the main supplier of hard currency.

Emefiele and the Deputy Governor (Economic Policy), CBN, Dr. Sarah Alade held meetings with investors in Britain and the United States, a central bank official said.

“It was more like a roadshow to get investors back into the country,” and authorities were particularly keen to boost dollar liquidity, he told Reuters.

Read more at https://www.today.ng/business/154508/emefiele-woo-investors-naira-falls