Central Bank governors across Africa converged on Abuja, Nigeria’s capital on Wednesday night to discuss the effects of the exogenous shocks from the global economy on financial systems across the continent.
In the aftermath of sharp drop in commodity prices, which is the main export and foreign exchange earner of most African countries, many financial systems across the world are still grappling with the adverse effects of these shocks.
Governor of Nigeria’s Central Bank, Godwin Emefiele as Co-Chair of Sub-Saharan Africa Regional Consultative Group of the Financial Stability Board (FSB), alongside the Governor of the Reserve Bank of South Africa, Lesetja Kganyago, is hosting the meeting at the Transcorp Hilton Abuja.
The African central bank governors’ meeting is designed to find lasting, effective and common solutions that can be applied to African financial systems and also on finding country-specific solutions that best suit individual African countries.
In attendance are the Governor’s of the Central Banks of Ghana, Lesotho, South Africa, Tanzania, Uganda and many others.
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