Okonjo-Iweala assures of steady economy despite Sanusi’s exit

The coordinating minister for the Economy and the minister of Finance, Dr. Ngozi Okonjo -Iweala yesterday stated that the suspension of the Central Bank of Nigeria (CBN) governor, Mallam Sanusi Lamido Sanusi by President Goodluck Jonathan will not have any negative effect on the Nigerian economy.

Okonjo Iweala, while addressing the media in Abuja on the suspension of Sanusi  and its likely effect on the economy assured market participants of the preparedness of the federal government to manage the post Sanusi economy in such a way that it would continue to be the envy of all stakeholders.

“When the news broke out on the suspension of Sanusi Lamido Sanusi, the governor of the CBN, there have been concerns in the market, which is not unusual, you know when there is movement of one of the major avenue for managing an economy there are bound to be some reactions, but I just want to use this opportunity  to focus on our market participants of the resolute attention of this government  to begin to manage the economy” she said.

In this regard, the minister stressed  that the federal government would continue to maintain   macro  economic stability with a view to transforming the different sectors of the economy.

”Our objective remains to maintain macroeconomic stability, that has been the hallmark of this government and of this administration. It  is the maintenance  of macro economic stability that has enable us to continue to transform the different sectors of the economy and that will not change” she said.

According to her, the federal government had the confidence  that this would continue because the new acting governor, Dr Sarah Alade, the deputy governor for Policy of the Bank has been part of the former governor’s policy at the CBN.
“So with this,we will continue tightening our fiscal and monetary policies , the stability that has been the bedrock  of the economy will be maintained so we hope market participants will get back to business as usual and we hope that the stability of the Naira will be there and we will be able to manage the situation going forward. ”

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