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Herbert Wigwe, “Banks unite to improve Forex”

Dr Herbert, who is the Chairman of Body of Bank CEOs, had recently recounted how bank CEOs in the country joined forces with the Central Bank of Nigeria (CBN) to tackle the foreign exchange crisis that confronted the country during the slump in crude oil price, this was at the annual dinner of the Chartered Institute of Bankers of Nigeria (CIBN).

He described 2017 as one of the most interesting years in the country, saying that bank CEOs were meeting with the central bank governor every weekend during the forex crisis, in order to address the situation. “When we got into 2016, the country went into an economic recession which continued until 2017, If you are not close to where the problem was, you would not appreciate how difficult it was to ensure that there is stability, But because of the work I do as the Chairman of the Body of Bank CEOs, I started working very closely with the governor of central bank”.

Dr Herbert continued by saying, “2017 was extremely interesting for all bank CEOs. We converted the CBN governor’s house on Sundays into a meeting room where all of us met every Sunday. We could not travel. But I think it is interesting that those days are behind us now,” He commended efforts by the central bank at ensuring stability in the forex market.

Dr Herbert added: “As we get into 2018, all of us need to work together as a body to make sure we have a much better country.”