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Nigeria's Central Bank Sees Tight Monetary Policies Continuing

  • Governor to keep exchange rate stable with strong reserves
  • Emefiele says bank will ‘aggresively’ expand development role
Godwin Emefiele
Godwin EmefielePhotographer: Chris J. Ratcliffe/Bloomberg

Nigeria’s tight monetary policy will “continue in the near term” and the central bank will increase its funding to the agricultural sector, according to Governor Godwin Emefiele.

The central bank will be able to maintain a stable exchange rate given the strength of Nigeria’s reserves, Emefiele, 57, said at a conference in the commercial capital, Lagos.