The governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, is now in the Presidential Villa in Abuja for a meeting with President Bola Tinubu.
Tinubu, whose car arrived at the mansion at 2:30 p.m., inspected a Guards of Honour march.
Later, he was greeted by Vice President Kashim Shettima, Emefiele, Mele Kyari, Group Managing Director (GMD) of the Nigerian National Petroleum Corporation Limited (NNPCL), Femi Gbajabiamila, Speaker of the House of Representatives, and Tijjani Umar, Permanent Secretary, State House.
Former Lagos Finance Commissioner Wale Edun and House of Representatives member James Faleke were also present at the villa.
In his inaugural address, Tinubu had charged the Central Bank to work towards a unified exchange rate.
He had also vowed to review the naira redesign policy of the former administration which was implemented by the CBN.
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He had said: “Monetary policy needs thorough house cleansing. The Central Bank must work towards a unified exchange rate. This will direct funds away from arbitrage into meaningful investment in the plant, equipment and jobs that power the real economy.
“Interest rates need to be reduced to increase investment and consumer purchasing in ways that sustain the economy at a higher level. Whatever merits it had in concept, the currency swap was too harshly applied by the CBN given the number of unbanked Nigerians.
“The policy shall be reviewed. In the meantime, my administration will treat both currencies as legal tender.”
This is the third president that Emefiele would work under.
Appointed by ex-President Goodluck Jonathan, Emefiele also worked with immediate past President Muhammadu Buhari who reappointed him.
