Emefiele came under fire over his reluctance to appear before the Senate on two consecutive invitations.
This was as Chairman of the Committee, Solomon Adeola, Tuesday, also prevented representatives of the Nigeria Sovereign Investment Authority from participating in the deliberation as the Managing Director Uche Orji, failed to appear before the committee.
He indicated that “the same rule that applies to the governor should apply to the NSIA boss saying “as far as we are concerned you are a spectator today”.
But speaking at the occasion yesterday, the CBN boss said: “It is important that I apologise for my inadvertent absence in yesterday’s sitting and I was unfortunately held down in another assignment in which I was meant to be present with the vice President of the country. My most sincere apology for the inability to be here.
He explained that the CBN recognises the essential role and the responsibility of not only the Senate, but the Finance and the Banking Committees in the overall development of Nigeria and the banking industry.
Having appollogised, Emefiele listed the mandate of the CBN as enshrined in the CBN Act as amended to include, “Maintaining price and monetary stability, defending the currency of the country and acting as financial adviser to the Government of the country.
“In the area of monetary policy we are trying as much as possible that monetary policy dicision are those that will impact positively on the lives of the people.
“It should not just be talking about exchange rates, interest rates and so on, we are talking about how our visions on exchange and interest rates and other things we discuss at the Monetary Police Committee, how do they impact in this case positively on the lives of Nigerians.”
He said through itsvarious activities and pronouncements the CBN was doing the little it can towards the development of the country.
He said given the fact that the stamp duties and other related matters are currently at the High Court he will like to crave their kind indulgence that permit that he speaks off camera. In his remark the Committee Chairman thanked the governor for the presentation as it affects monetary policies.