Nigeria: CBN Targets Double-Digit Growth, Single-Digit Inflation By 2023

25 June 2019

Central Bank of Nigeria (CBN) Governor, Mr. Godwin Emefiele, yesterday unfolded the bank's policy direction for the next five-year under his watch, targeting double-digit growth, single-digit inflation, $12 billion non-oil exports by 2023 and raising financial inclusion to 95 percent level by 2024.

He also pledged to retain managed-float exchange rate and announce a bank recapitalisation that will see banks jacking up their capital base above the N25 billion minimum level that one of his predecessors, Prof. Charles Soludo, introduced in 2004.

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