The 39th Ordinary meeting of the Assembly of Governors of the Association of African Central Bank Governors (AACB) has ended in Abuja, with the Governor, Central Bank of Nigeria (CBN), Mr. Godwin Emefiele elected as the President of the ACCB for the 2016 – 2017 year.

Elected, alongside Mr. Emefiele, to run the affairs of the Bureau for the period are the Governor of the Bank of Ghana as chairman of the West African sub-region; Governor of the Central Bank of Mauritania, Chairman of the North African sub-region; and the Governor of the Bank of Central African States, Chairman of the Central African Sub-region.

Also elected were the Governor, Banque de la Republique du Burundi as Chairman of the East African Sub-region and Governor of the Central Bank of the Kingdom of Swaziland as Chairman of the Southern African Sub-region.

Reading the communique at the end of the meeting of Governors, the new AACB President, Mr. Emefiele disclosed that the nomination for the Vice Chairman of the AACB, which is zoned to the South African Sub-region, would be made known in due course.

The Assembly of Governors also chose: “Prospects for monetary integration in Africa: Lessons learned from the experience of monetary and financial integration of Europe,” as theme for the 2017 symposium.

According to the communique, the meeting noted that the unwinding of unconventional monetary policy measures, adopted during the financial crisis by the United States Federal Reserve and central banks of developed countries, could have a negative impact on African countries due to the interconnectedness of economies.

However, the congress noted that the unwinding of unconventional monetary policy could be an opportunity for African countries to develop appropriate measures to strengthen their resilience in the face of exogenous shocks.

The Assembly of Governors therefore stressed the necessity for African countries to diversify their economies and improve exports, while limiting imports.

The Assembly also emphasised the urgent need for coordination between monetary and fiscal policy across all African countries.

The Governors equally examined the implementation status of the African Monetary Cooperation Programme (AMCP) and pointed out the inability of African States to sustainably meet some of the criteria for macroeconomic convergence due to the negative impact of certain variables within the international environment.

They therefore urged African countries to strengthen efforts at implementing structural reforms in order to diversify their respective economies, improve the business environment and promote intra-regional trade as a way of strengthening their resilience amidst external shocks.

In reviewing the implementation of the work programme of the Community of African Banking Supervisors (CABS), which it noted had helped to set up an intranet platform for exchange of information among African banks, the AACB disclosed plans to unveil a project for collecting information on the activities of cross-border banks.  This, the AACB noted, would allow the identification of risks associated with the activities.

The 39th Ordinary meeting of the Association of African Central Banks (AACB) was attended by 27 member Central Banks and the African Union Commission (AUC).



Source: http://www.trezzyblog.com/2016/08/cbn-governor-emefiele-emerges-aacb.html

Congrats to him

Don't know if I should say congratulations considering the cry of the poor and how poorer they've become due to a cooperate way this government has subjected many to, with no remorse which still wouldn't have solved the issues.

Smh...

Just for the benefit of pretending to be one Nigeria;

I join to say Congratulations, Sir!!

Congratulation to you sir.

Elected, alongside Mr. Emefiele, to run the affairs of the Bureau for the period are the Governor of the Bank of Ghana as chairman of the West African sub-region; Governor of the Central Bank of Mauritania, Chairman of the North African sub-region; and the Governor of the Bank of Central African States, Chairman of the Central African Sub-region.
Also elected were the Governor, Banque de la Republique du Burundi as Chairman of the East African Sub-region and Governor of the Central Bank of the Kingdom of Swaziland as Chairman of the Southern African Sub-region.

with these Governors elected, considering the economy of the Nations, I don't see any serious progress in the association.

Whom God has blessed
What elders see sitting, nairaland kids won't see,even if they climb mount Everest.

Oya come and claim, he is GEJ's product.

This man is very dexterous and diligent. His CBN policies so far have been effective in making the economy manageable and auspicious. the only problem is that he is working under a man without any economic clue and brilliance.

hucienda:


With the naira dancing makossa upandan?

Anyway sha im name bi Godwin n finally for dis im mata na God win.

Congratulations.

He has demonstrated high level of proficiency and technocracy to stabilize the Naira to some extent, otherwise Naira would have been virtually useless by now.

Just look at how much impact we make in Africa. Most African countries see us as Big brother. We have the largest economy in Africa, the largest land army in Africa; the brightest , finest, richest and innovative men in Africa are seen in Nigeria. Therefore, we must build bridges not walls among ourselves. Let us see ourselves as one people. We must shelve our differences and see them as unique cultural masterpiece which the world must see. Let us learn to love. Countries envy us, we may not have steady electricity but we supply power and gas to Ghana and a host of other west African countries. That's because we're the big brother.
We built this country together, everyone contributing his own piece. Let us enjoy it together. The government should stop encouraging nepotism, and set the foundation for bridges among us. Let us build this country together.
We are not Afonjas or Flat,heads or herdsmen. We're brothers occupying the best terrestrial part of the world- Nigeria

Congratulations , your call have been picked

They don't know anything in Africa

Good for him pocket

OK good. I wanna see more Nigerians go higher like this

Congrats to him

Just passing. ...... Congrats though!

ok

blueto:
This man is very dexterous and diligent. His CBN policies so far have been effective in making the economy manageable and auspicious. the only problem is that he is working under a man without any economic clue and brilliance.

Good. Make sure you direct your anger to him if NGN400/1$

I should think countries with a working economy ought to occupy the position. Not countries with run-down recessive economies like Nigeria.

Yes elect him.......He's doing so well at the National level.....

Africanus.....

Same old cargoes...


Shy of bet shops?
You don't have to visit one, just check my signature.
Even, ladies are outperforming with this approach


.

Harrisee:
Just look at how much impact we make in Africa. Most African countries see us as Big brother. We have the largest economy in Africa, the largest land army in Africa; the brightest , finest, richest and innovative men in Africa are seen in Nigeria. Therefore, we must build bridges not walls among ourselves. Let us see ourselves as one people. We must shelve our differences and see them as unique cultural masterpiece which the world must see. Let us learn to love. Countries envy us, we may not have steady electricity but we supply power and gas to Ghana and a host of other west African countries. That's because we're the big brother.
We built this country together, everyone contributing his own piece. Let us enjoy it together. The government should stop encouraging nepotism, and set the foundation for bridges among us. Let us build this country together.
We are not Afonjas or Flat,heads or herdsmen. We're brothers occupying the best terrestrial part of the world- Nigeria

stop deceiving urself. No country envy Nigeria, whats there to envy? When a basic thing like indoor running clean water is Hugely Absent.
How many africans do you see running to Nigeria to live and hustle? No one envy a 3rd world failed country like Nigeria abeg.

Now ngeneukwenu will not find this funny.

Zombies will die of heart attack over this news

Dg

congrats


2016/2017 Jerseys available, order now
https://www.nairaland.com/3204752/2016-2017-jerseys-available-affordable

Adaure4ever:
stop deceiving urself. No country envy Nigeria, whats there to envy? When a basic thing like indoor running clean water is Hugely Absent.
How many africans do you see running to Nigeria to live and hustle? No one envy a 3rd world failed country like Nigeria abeg.

my dear they do envy us wella, mostly the francophe countries

justhelp:
my dear they do envy us wella, mostly the francophe countries

I agree o.
I have been to a couple of African countries overtime, and many of them are very envious OF Nigeria.

Despite our challenges.

Especially Ivorians, Senegalese and Soutg Africans.

The forex market died due to the following reasons :

1. Increasing the capital bases of BDCs.
2. Limiting the sale of dollars to BDCs, which caused scarcity then price hike of the greenbacks.
3. Inconsistency with decisions, sell today, don't sell tomorrow.
4. Emefiele being the CBN governor.

Ok

k

That's a good development. Congrats to him