It is indeed a pleasure to be with you this evening, and to use this occasion to step back from the day-to-day concerns of inflation, external reserves and exchange rate, to consider a number of the deep-seated, long term factors shaping Nigeria’s economy.
In our statement on Policy Normalization Principles and Plans, we outlined an intention to hold no more securities than necessary to implement monetary policy efficiently and effectively. 3 As the balance sheet continues to shrink, we are now in the process of determining that necessary size.