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Apex bank says forex scarcity 'good for Nigeria'

folarin okunola

April 25, 2016 4:07 PM

Mr. Godwin Emefiele, Central Bank of Nigeria (CBN) governor, made the statement during the assessment tour of the farmlands cultivated under the Anchor Borrowers Programme in Kebbi State.

CBN Governor, Godwin Emefiele

According to media reports, the current scarcity of foreign exchange confronting the country has been described as a good riddance for the Nigerian economy by the CBN because local production of various essential goods are now being given top priority.

Mr. Godwin Emefiele, Central Bank of Nigeria (CBN) governor, made the statement during the assessment tour of the farmlands cultivated under the Anchor Borrowers Programme in Kebbi State over the weekend.

READ: Apex bank promises to aid employment via local production

He said that the commitment of the stakeholders and expected output from Kebbi state alone have proved critics of the CBN’s policy measures wrong.

Emefiele also noted that with level of success attained with the pilot project in Kebbi state as well as what he saw at the Sunti Golden Sugar Estate in Niger state just recently, it is now a reality that the country can produce enough to feed itself and even export in the distant future.

folarin okunola

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