The Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has been elected as the President of the Association of African Central Banks (AACB).
Emefiele, who was elected at the 39th Ordinary meeting of the Assembly of Governors of the AACB, will be president of the association for the year 2016 to 2017.
This is contained in a communiqué issued in Abuja on Friday. The communiqué added that he will succeed Lucas Nchama, Governor of the Banque des �tats de l’Afrique Centrale (BEAC).
To work with Emefiele are the governor of the Bank of Ghana as chairman of the West African sub-region; governor of the Central Bank of Mauritania, chairman of the North African sub-region; and the governor of the Bank of Central African States, chairman of the central African sub-region.
Also elected were: governor of Banque de la République du Burundi as chairman of the East African sub-region and governor of the Central Bank of the Kingdom of Swaziland as chairman of the Southern African sub-region.
AACB announced that the theme of 2017 Symposium will be “Prospects for monetary integration in Africa: Lessons Learned from the Experience of Monetary and Financial Integration of Europe”.
The 2016 Symposium themed was “Unwinding Unconventional Monetary Policies: Implications for Monetary Policy and Financial Stability in Africa”.
The communiqué stated that discussions showed that the unwinding of unconventional monetary policy measures, could have a negative impact on African countries due to the interconnectedness of economies.
African countries. It stated, face challenges, especially the depreciation of the exchange rate and the decline in capital flows which could result from an exit from unconventional monetary policies in the developed countries.
