Governor of the Central Bank of Nigeria, Godwin Emefiele says allowing the naira to float freely would have caused a currency crisis and capital flight. He made the remark in response to a question about the bank’s currency restriction imposed in 2015.

Although Nigeria's Central Bank Governor, Godwin Emefiele, announced that the country's baseline rate would be maintained at 14 per cent, he stated plans to implement initiatives that could reduce the cost of funds to key sectors of the country's economy.

Nigerians such as the Central Bank governor, Godwin Emefiele (Distinguished Financial Policy Strategist of the Year), Governor Ibrahim Dankwambo of Gombe State (Most Outstanding Governor of the Year),Governor, Ibrahim Gaidam of Yobe State (Distinguished Education Champion award),Governor Simon Lalong of Plateau State (Distinguished Human Capital Development Champion), Transport Minister Rotimi Amaechi ( Most Distinguished Achiever in Transport Infrastructure).

Governor of the Central Bank of Nigeria Godwin Emefiele has revealed that President Muhammadu Buhari is satisfied with the stability in the foreign exchange market, following the sustained intervention by the Apex bank.

Nigeria's central bank on Tuesday sold 25 million US dollars at the newly introduced FX window for investors & exporters. Meanwhile, Godwin Emefiele says the present economic recession in the country would be over by the third quarter.

Standard and Poor's global ratings downgraded Nigeria further into junk status, citing a marked contraction in oil production, a restrictive foreign exchange policy and delayed fiscal stimulus.

The Central Bank of Nigeria Governor Godwin Emefiele, on Tuesday announced to keep benchmark interest at 14 per cent, and also maintained existing cash reserve ratios for commercial banks at 22.5 percent.