Some financial experts have urged the new Central Bank of Nigeria (CBN) Governor, Mr Godwin Emefiele, to work out strategies, aimed at promoting lending to the real sector.

Some of the financial experts told the News Agency of Nigeria (NAN) in Lagos that the new CBN governor should pursue and consolidate friendly policies that would create employment and stablise the economy.
Dr David Ogogo, the Registrar/Chief Executive Officer of the Institute of Capital Market Registrars, said that Emefiele should be careful in accepting subsisting policies.

Ogogo said that the governor should work on strategies that would stabilise the nation’s currency against other currencies at the foreign exchange market.
He said that the CBN chief should streamline money market policies to ensure economic stability and growth. According to him, if Emefiele is able to streamline money market policies, the effect on the capital market will be positive because banks constitute 70 per cent of market activities.

Alhaji Rasheed Yussuf, the immediate past President of the Association of Stockbroking Houses of Nigeria, said that the governor should concentrate on macroeconomic policies, essential for economic growth. Yussuf said that Emefiele should also ensure strong management of money supply in the system and concentrate on how to boost the nation’s dwindling reserve to boost investors’ confidence in the economy. “We are not expecting a major policy shift but consolidation of existing policies for the betterment of the economy,” Yussuf said.