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The Federal
Executive Council (FEC) has commended the efforts of the Central Bank
governor in reforming and repositioning the banking sector in Nigeria.

The commendation
came after a memo by the governor, Sanusi Lamido Sanusi, to the council
on the performance of the economy in the first quarter of this year and
the reforms instituted by the bank under his watch.

Briefing State
House correspondents after the council meeting in Abuja, Dora Akunyili,
the Minister of Information and Communication, said Mr. Sanusi told the
Federal Executive Council that there had been steady growth in Gross
Domestic Products (GDP) and a moderation in inflation, interbank rates,
and other money market, as well as lending rates, among other monetary
indices.

Mr. Sanusi was
quoted to have said that the CBN is delivering on its key mandate of
providing monetary and financial stability and that so far, the
implementation of banking reforms has engendered confidence in the
system.

Also today, the
Council approved N3.569 billion for the provision of Information and
Communication Technology (ICT) enabled facility to 209 secondary
schools in the country.

Eight schools from the 36 states of the federation and four from the
Federal Capital Territory (FCT) will benefit from the Internet facility
to be provided by the Ministry of Information. President Goodluck
Jonathan presided over the Federal Executive Council.