CBN assures stakeholders of stability

The Central Bank of Nigeria (CBN) has assured stakeholders and investors of the stability and smooth functioning of the financial market, irrespective of the suspension of Governor Sanusi Lamido Sanusi.

 

This is contained in a statement issued by Mr Isaac Okorafor, the Deputy Director, Corporate Communication of the CBN on Thursday in Abuja. The News Agency of Nigeria reports that Sanusi was on Thursday suspended by President Goodluck Jonathan for acts of financial recklessness and misconduct among other allegations.

 

"The CBN, therefore, assures all stakeholders, especially market operators, international investors and the general public that the CBN as an institution remains stable.

 

"The CBN  will continue to facilitate the smooth functioning of the financial market as well as ensure currency and price stability," it said. It added that the apex bank had received a letter from the Secretary to the Government of the Federation, conveying the president's decision to suspend Sanusi. The statement assured that the apex bank remained committed to achieving its mandate as enshrined in the CBN Act of 2007, particularly relating to price stability and financial stability.