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CBN governor, Mr. Godwin Emefiele, has assured investors following JPMorgan’s removal of the country from its influential emerging markets bonds index amid fears about the country’s economic management.
Speaking with Financial Times, Emefiele dismissed concerns about foreign exchange liquidity.
He questioned the reasons behind JPMorgan’s decision. “JPMorgan raised two issues, liquidity and transparency,” he told the Financial Times on Thursday.
“But there [remains] a range in the volume of liquidity from between $350m to almost $400m daily, and that has never been a problem. And we’ve also addressed the issue of transparency. So I don’t really know what the issues are.”
The central bank governor, whose protectionist policies and management of the foreign exchange rate has alarmed analysts, said that dollar demand was still being met, although traders say liquidity has dried up
click here to read full report
Speaking with Financial Times, Emefiele dismissed concerns about foreign exchange liquidity.
He questioned the reasons behind JPMorgan’s decision. “JPMorgan raised two issues, liquidity and transparency,” he told the Financial Times on Thursday.
“But there [remains] a range in the volume of liquidity from between $350m to almost $400m daily, and that has never been a problem. And we’ve also addressed the issue of transparency. So I don’t really know what the issues are.”
The central bank governor, whose protectionist policies and management of the foreign exchange rate has alarmed analysts, said that dollar demand was still being met, although traders say liquidity has dried up
click here to read full report
