CBN submits 2019 budget proposal to parliament

…Plans new means to manage liquidity

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The Central Bank of Nigeria (CBN) has submitted its 2019 budget proposal to the House of Representatives Committee on Banking and Currency.

Presenting the budget proposals for 2019, the CBN Governor, who was represented by the deputy governor, corporate Services, Edward Lametek Adamu, gave a summary of all the vote heads and commitments of the Bank for 2019.

Adamu explained that the Bank remained committed to sustaining stability in the financial system in addition to pushing policies that will continue to engender growth in the Nigerian economy. He, however, disclosed that the Bank was devising new means of managing liquidity in order to reduce expenses on liquidity management in 2019.

Responding, the Chairman House of Representatives Committee on Banking and Currency, Honourable Jones Onyereri acknowledged the effort of the CBN at managing liquidity. He, however, urged the Bank to do more by further enlightening members on the dynamics of liquidity management.

Adamu was accompanied to the National Assembly by Departmental Directors from the Bank: Ibrahim Mu’azu (Strategy and Management Department); Mudashir Olaitan (Development Finance); Umma Dutse (Human Resources); Isaac Okorafor (Corporate Communications); and Arinze Stanley (Procurement and Support Services).

 

HOPE MOSES-ASHIKE

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