Mr Godwin Emefiele, Governor of the Central Bank of Nigeria, has stated that the CBN is addressing the economic challenges confronting the Nigerian economy through its various challenges.
Emefiele, who was represented by the CBN’s Corporate Communications Director, Mr Osita Nwanisoba, made the remarks after a two-day CBN Fair in Asaba.
He said, “CBN is passionate about empowering youths, especially young graduates, through various initiatives to support small and medium-scale enterprises as well as agricultural support schemes.
Our various programmes are targeted at youth empowerment and restructuring of the Nigerian economy to move it away from its over-dependence on oil revenue.
The unprecedented rice pyramid witnessed in Abuja, recently and the over 160 per cent rise in the number of rice mills in the country is a piece of evidence that the CBN’s intervention in the agriculture sector was yielding fruits. There is a need for all hands to be on deck to tackle the economic challenges facing Nigeria”.
He stated that the apex bank’s Anchor Borrowers’ Programme and other development finance interventions greatly aided in mitigating the negative impact of the COVID-19 pandemic in Nigeria through the palliative that Nigerians benefited from.
He went on to say that the CBN’s intervention programs emphasized the importance of developing a diverse economy capable of meeting modern challenges sustainably.
Recall that, The Central Bank of Nigeria (CBN) stated Thursday that the introduction of the eNaira into the financial system will, among other things, improve monetary policy effectiveness in managing inflation and driving economic growth in the country.