BusinessDay
Nigeria's leading finance and market intelligence news report.

CBN endorses Association of Corporate Treasurers

The Central Bank of Nigeria (CBN) has endorsed the Association of Corporate Treasurers of Nigeria (ACTN).

Okwu Joseph Nnanna, Deputy Governor, Economic Policy, CBN made this known to the members of ACTN governing council during their courtesy visit to him in Abuja last week.

While urging ACTN to be research oriented, consider how it could institute corporate governance, he said that ACTN should interface with CBN in the partnership through the Financial Markets Department of CBN.

The Association of Corporate Treasurers of Nigeria is an association established to foster the interests of Corporate Treasurers in the Nigerian financial markets by providing a platform for policy advocacy, discussions on issues of mutual interest, education and standard development of the corporate treasury function.

Read also: CBN wades into OMO market as buyer of last resort

Zeal Akaraiwe, chairman of ACTN governing council who led the ACTN team noted that the association could play a vital role in partnering with CBN in the area of providing CBN with feed- back on policy issues.

He reiterated the value the ACTN could be adding to the process and quality of policies if CBN could depend on the ACTN for certain statistics they would require for more informed policies.

The CBN Deputy Governor who agreed that CBN would partner with ACTN also requested that CBN be put on notice regarding the ACTN activities. He also stated that ACTN would be for CBN the heartbeat of the real sector in measuring market sentiments.

As a result, the apex bank has asked the ACTN to provide CBN with information on the impulse of the real sector regarding exchange policies and other issues the members were facing in accessing foreign exchange.

The CBN Deputy Governor told the members of ACTN governing council that CBN was trying to de-risk the real sector and expressed willingness to partner with ACTN in that regards to move the economy forward.

 

Get real time updates directly on you device, subscribe now.

Comments are closed, but trackbacks and pingbacks are open.