The Central Bank of Nigeria (CBN) says Nigeria will take over the chairmanship of the Intergovernmental Group of Twenty-Four (G-24) from Argentina on November 1.
In a statement on Wednesday, the apex bank said Nigeria will formally reveal its work programme after proper consultation.
The development means that Wale Edun, Nigeria’s minister of finance, will take over the leadership of G-24 from Pablo Quirno, Argentina’s secretary of finance.
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Speaking on behalf of Edun, who was ruled out of the annual meetings due to illness, Olayemi Cardoso, the CBN governor, reiterated Nigeria’s commitment to strengthening the voice of the G-24 as a catalyst for inclusive dialogue and reform.
“Our focus will be on sustaining momentum in areas that matter most to our members. We look forward to working with members to advance our shared mission of inclusive growth, equity, and global stability,” he said.
“We are determined to ensure that the G-24 continues to be a formidable platform for representing the common interests of emerging and developing economies.”
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Speaking at the Group-24 (G-24) press briefing on October 14, the CBN governor said due to reforms, the effects of global ties and trade are “less of a problem for us (Nigeria)”.
“And I think we were very fortunate, because a lot of the things that were needed to have been done, we did them much earlier,” he said.
“And as a result of that, we were able to create resilience and buffers against potential shocks. So, and of course, in terms of anchoring expectations, we found that those who followed the Nigerian economy were fairly comfortable.”
Cardoso said crude oil was the only commodity that was exposed to global shocks, but “the impact of that was relatively modest”.
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