Emefiele-led CBN Deserves Accolades, CSOs Tell Nigerians

 
The Coalition of Civil Society Groups, CCSG, has called for more praises to be showered on the Governor of Central Bank of Nigeria (CBN), Godwin Emefiele and his management given their overall efforts to drive the economy to an enviable height.
The President of the Coalition, Bassey Etuk Williams made this known while delivering a keynote address at a press conference on Tuesday in Abuja.

According to Williams, “there is no doubt that the Governor of CBN and his team will deliver. Indeed, Mr Godwin Ifeanyi Emefiele has done wonderfully well to deserve more accolades from Nigerians for a work well done.”
He emphasized that the country is in safe hand economically given the genuine efforts of Emefiele to develop Nigeria economically, while calling on every Nigerian to support the Emefiele-led CBN and the Federal Government.
 
Highlighting some of Emefiele’s giant strides, Williams had these to say:
“Emefiele backed up his pledge to facilitate job creation by creating the Creative Industry Financing Initiative, CIFI, which is being implemented in collaboration with the Bankers’ Committee.

To encourage diversification of the economy and stimulate growth in the agriculture sector in line with President Muhammadu Buhari’s plan, the CBN Governor established an innovative agriculture credit plan: Anchor Borrowers Programme, which has increased yield per hectare of agricultural produce like Rice, Groundnut and Cocoa.

“CBN Governor embarked on other policies such as the Youth Entrepreneurship Development Programme, YEDP, Accelerated Agricultural Development Scheme, AADS, the Agri-business/Small and Medium Enterprises Investment Scheme, AGSMEIS, the National Collateral Registry, NCR, and lately the Creative Industry Financing Initiative, CIFI, which is a collaboration between the CBN and the Bankers’ Committee.

“A nationalistic economist of a kind, no doubt Emefiele has shown commitment; in the course of his tenure, he has championed diversification of the Nigerian economy, away from heavy dependence on crude oil and other imported items that can be produced in the country. He has continued to make an effort to stabilized the Naira and put the economy on the right footing.

“Creating the Inter-bank/Wholesale and the Investors/Exporters’ windows have brought great relief, leading to exceptional acreage in foreign reserve and a rise in capital inflow.

“He also introduced an import exclusion policy, increased patronage for local goods and stimulated local production significantly, presented a check on the activities of the Bureau De Change, BDC, and ended the continued depreciation of Naira over the years.

“In a sincere effort to salvage the Naira, the CBN stopped the sales of Forex to Bureau De Change, BDC, Operators who exploit and artificially inflate dollar/naira exchange.
“CCSG applauded this move to discourage illicit financial flow, BDC racketeering and indiscriminate round-tripping, including the genuine effort of the Governor in trying to stabilize the Naira.

“The Governor has halted the recession that recently threatened the country through the new monetary policies on diaspora remittance and sustainable intervention.
“The same tact came to bear in this present Covid-19 induced economic challenge as we could bounce back faster than other African Countries. The policies have been deliberate, precise and impactful.
“We are bold to say that Nigeria is in Safe hand” economically. We request that everybody support this Government; there is no doubt that the Governor of CBN and his team will deliver. Indeed, Mr Godwin Ifeanyi Emefiele has done wonderfully well to deserve more accolades from Nigerians for a work well done.” Williams revealed.