Nigeria economy still strong – CBN boss –

Central Bank of Nigeria (CBN) Governor, Mr. Godwin Emefiele, on Tuesday declared that the strategic health of the country’s financial system is still strong.

Emefiele also painted a gloomy picture of the sharp decline in the price of oil and commodity prices to the country’s economy.

The CBN boss spoke at a closed session with Senators in line with Section 8 of the CBN Act, 2007, which required that the Governor of the Bank provide, to the National Assembly, periodic updates on the activities of the Bank as well as the performance of the economy.

After the over one hour closed session, Senate President, Abubakar Bukola Saraki noted that the Senate in a closed door session with the CBN Governor deliberated on the new foreign exchange management policy and the determination of foreign exchange market by demand and supply mechanism.