CBN tackling economic challenges via interventions – Emefiele

The Governor of the Central Bank of Nigeria, Mr Godwin Emefiele, has said the CBN is tackling the economic challenges facing the Nigerian economy through its various challenges.

Emefiele, represented by the Corporate Communications Director, CBN, Mr Osita Nwanisoba, said this at the end of 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 in order 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 an evidence that the CBN’s intervention in agriculture sector was yielding fruits. There is a need for all hands to be on deck to tackle the economic challenges facing Nigeria.”

He said the Anchor Borrowers’ Programme of the apex bank and other development finance interventions greatly helped in mitigating the adverse impact of the COVID-19 pandemic in Nigeria through the palliative that Nigerians benefitted from.

He added that growing a diversified economy that would meet contemporary challenges in a sustainable manner underscored the intervention programmes of the CBN.

 

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