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The Governor of the Central Bank of Nigeria, Professor Charles Soludo will on January 24, in Washington DC, meet with his outgoing US counterpart, Mr. Allan Greenspan, Chairman of the United States Federal Reserve Bank (FED).
The Governor of the Central Bank of Nigeria, Professor Charles Soludo will on January 24, in Washington DC, meet with his outgoing US counterpart, Mr. Allan Greenspan, Chairman of the United States Federal Reserve Bank (FED).
Although the agenda of the meeting is yet to be made public, banking sector sources say that it is part of Soludo's exchange of ideas with, and recognition by his peers around the world, coming shortly after that with Melvyn King, the Governor of the Bank of England last October.
Their talks will likely revolve around a number of issues that have so far underpinned the unprecedented success of the FED in the maintenance of macroeconomic stability in the United States.
The CBN has expressed its intention to adopt inflation targeting as its core policy focus later in 2006. The CBN Governor may want to learn from the success of the FED under Greenspan in sustaining non-inflationary growth of the US economy in the past one decade.
In a similar meeting with Mr King in London last October, Soludo had attracted the admiration and commendation of the Bank of England Governor over the banking sector revolution in Nigeria. Both governors had agreed to establish close ties in the area of training, inflation modelling and technical co-operation.