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Shock As CBN Governor Finally Owns Up, Gives Reason Why Nigeria’s Economy May Collapse

The Governor, Central Bank Of Nigeria, CBN, Godwin Emefiele, has on Monday October 17, owned up on his lack of capacity to immediately recover the nation’s economy from recession, as he said, managing the nation’s economy out of recession was a difficult task for him.

Emefiele, who made this known ‎while receiving members of the Senate Committee on Finance, Insurance and other Financial Institutions, who paid an oversight visit to the apex bank in Abuja, said, ‎managing an economy in recession is a difficult task but the presents challenges are surmountable.

According to him, the situation in the country required the cooperation and collaboration of all stakeholders, while expressing delight at the support that the bank had received from lawmakers in the past.

‎Emefiele said, “I am delighted that not only the committee but the entire Senate has worked closely with the Central Bank of Nigeria, receiving constant briefings about our activities and some of the things we have done to lift our country from the current situation that we are to prosperity.

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“I must confess that it is difficult, but I must also say that the challenges are easily surmountable.

“We will continue to crave the support of the Senate; we will continue to crave the support of the committee, just as you have done in the past, to help achieve the common objective of lifting our country and making Nigeria an inhabitable place for Nigerians,”‎ Emefiele said.

Responding, the Chairman of the committee, Senator Rafiu Ibrahim, noted that the oversight visit was imperative because of the current economic situation in the country.

He said, “At this time, we are officially in recession; we believe that we have to work more together more than before. Even for those that have dual citizenship, Nigeria will still be number one.

“In the area of monetary policy, most Nigerians believe that most of the policies have failed because of the problem of recession,” the Committee’s Chairman said.

Senator Ibrahim, addressing the press after the meeting said, ‎the session, identified the areas of interest of the committee to include the performance of the 2016 budget, efforts being made to get the nation out of recession, and the state of the banks.

The post Shock As CBN Governor Finally Owns Up, Gives Reason Why Nigeria’s Economy May Collapse appeared first on Post-Nigeria.

Source: Today Trending News

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