Dr. Baranski was appointed the first Governor in May 1966, on secondment from the International Monetary Fund (IMF). During his one year tenure, the CBK commenced operationalizing the CBK Act, assumed responsibility for monetary policy and management of the country’s external assets to nurture the emerging banking sector. The CBK also embarked on developing and issuing new currency notes and coins, providing banking services to the Government and commercial banks and overseeing the foreign exchange and exchange control operations.