Emefiele Elected Chairman Of West Africa Monetary Zone, WAMZ

CBN Governor, Mr. Godwin Emefiele.

SAN FRANCISCO, September 13, (THEWILL) – The Governor of Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, has been elected chairman of the West Africa Monetary Zone (WAMZ) at the ongoing sub-regional meeting in Abuja.

Six countries make the union, namely: Nigeria, The Gambia, Ghana, Guinea, Liberia and Sierra Leone.

In his acceptance speech, Emefiele, whose ingenuity has helped stabilize the naira against the major foreign currencies, noted that “a lot of work needs to be done, especially in respect of the attainment of ECOWAS single currency by 2020.”

He further said everything that is required to be done would be actualised towards achieving the objectives of the regional organization while reiterating Nigeria’s unflinching commitment towards the single currency project in the sub-region.

The Governor had also been elected as the Chairman of the International Islamic Liquidity Management Corporation in 2016.

The International Islamic Liquidity Management Corporation is a global institution established by central banks, monetary authorities and multilateral organisations to create and issue short-term Shariah-compliant financial instruments to facilitate effective cross-border Islamic liquidity management.

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