Godwin Emefiele CBN Gov appointed head of International Islamic Liquidity Management Corporation

CBN’s acting Director of Corporate Communications, Mr Isaac Okorafor, announced this in a statement on Friday in Abuja.

  • Published:
Godwin Emefiele play Nigeria's central bank Governor Godwin Emefiele speaks during the monthly Monetary Policy Committee meeting in Abuja, Nigeria. (REUTERS/Afolabi Sotunde)
24/7 Live - Subscribe to the Pulse Newsletter!

The Governor, Central Bank of Nigeria (CBN), Mr Godwin Emefiele, has been elected as the Chairman of the International Islamic Liquidity Management Corporation (IILM).

CBN’s acting Director, Corporate Communications, Mr Isaac Okorafor, announced this in a statement on Friday in Abuja.

The statement stated that by the development, Emefiele had also become the Head of the General Assembly of the financial body, comprising nine countries and Islamic Development Bank.

IILM was established by central banks, monetary authorities and multilateral organisations to create and issue short-term Shari’ah-compliant financial instruments to facilitate effective cross-border Islamic liquidity management.

By creating more liquid Shari’ah-compliant financial markets for institutions offering Islamic financial services (IIFS), the IILM aims to enhance cross-border investment flows, international linkages and financial stability.

ALSO READ: Kidnappers got N80m to free Emefiele's wife

Its current shareholders comprised central banks and monetary authorities of Indonesia, Kuwait, Luxembourg, Malaysia, Mauritius, Nigeria, Qatar, Turkey, the United Arab Emirates and the Islamic Development Bank.

Do you ever witness news or have a story that should be featured on Pulse Nigeria?
Submit your stories, pictures and videos to us now via WhatsApp: +2349055172167, Social Media @pulsenigeria247: #PulseEyewitness & DM or Email: eyewitness@pulse.ng. More information here.