CBN Governor Takes Center Stage At Economic Summit Amidst Naira’s Revival

CBN Governor Takes Center Stage At Economic Summit Amidst Naira’s Revival....KINDLY READ THE FULL STORY HERE▶

Governor Yemi Cardoso of the Central Bank of Nigeria (CBN) is poised to headline discussions at the forthcoming 2024 edition of the Vanguard Annual Economic Summit. This development comes against the backdrop of significant recovery witnessed in the foreign exchange market, a direct outcome of his pioneering monetary policies and foreign exchange interventions over the past seven months.

The Naira has experienced notable appreciation for the fourth consecutive week, with a closing rate of N1,260 per dollar in the parallel market, a stark improvement from N1,890 recorded at the end of February 2024. Similarly, in the official market, the Naira closed at N1,255.07 per dollar, contrasting with N1,760 in February.

Governor Cardoso, who has been at the helm of implementing various reforms in the monetary sector since July last year, will address this year’s summit on the theme, “Reforms In The Era of Global Economic Uncertainties: Whither Nigeria?”. The Vice President of the Federal Republic of Nigeria, Kashim Shettima, has already confirmed his participation as the Special Guest of Honour for the event, scheduled to take place on May 23, 2024, at the Civic Center, Victoria Island, Lagos.

The Vanguard Annual Economic Summit, a premier economic development forum hosted by Vanguard Newspapers, has gained significant traction over the past seven years as a pivotal platform for both public and private sector leaders to review and exchange ideas on economic development in Nigeria.

The panel sessions will feature esteemed individuals from both public and private sectors, including the Governor of Niger State, Mohammed Bago, Director General of the Lagos Chamber of Commerce and Industry (LCCI), Mrs. Chinyere Almona, Director General of the Budget Office of the Federation, Mr. Ben Akabueze, President of the Nigeria Labour Congress, Comrade Joe Ajaero, and the Managing Director of Financial Derivatives Co. Limited, Mr. Bismarck Rewane.

The overarching objective of the summit, and particularly its theme, is to enlighten and educate stakeholders in the Nigerian economy, including foreign investors, on critical issues, policy options, and ongoing measures aimed at addressing economic challenges.

In other news, Vanguard Economic Summit holds on Tuesday, along with updates on various issues including Okuama Killings and EFCC’s actions against Bobrisky.

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