Governor of the Central Bank of Nigeria, Godwin Emefiele, has promised to intensify supervision of the nation’s banking sector to guide against failure, and ensure resilience of the sector.
The CBN governor made the remarks at the ongoing 2023 International Monetary Fund/World Bank Spring meetings in Washington DC, United States of America where he assured of continued supervision of Nigerian banks to make them resilient.
Emefiele welcomed the endorsement of CBN’s tight monetary policy stance by IMF, saying CBN will continue to focus on moderating inflation
Emefiele also pledged regulatory framework to support fiscal policy measures aimed at boosting growth in the Nigerian economy.
There had been fears of contagion over the failure of Silicon Valley Bank and Signature Bank, which were the second and third largest failures in the history of the United States.
