Connect with us


CBN Gov. Emefiele reveals what will happen if borders remain closed for two years



The governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, says that if the border closure is maintained over the next two years, the issue of insurgency, banditry, and kidnapping will be eradicated.

Latest Nigeria newspaper report that Emefiele declared this at the first Convocation Conference of Edo University, Iyamho, Auchi, on Friday.

The governor, while answering the questions after his lecture entitled “The role of monetary policy towards economic growth in Nigeria,” said the border closure was able to address all the security challenges currently being experienced in the country.

Latest Nigeria newspaper report that He explained that if the young people who were in these vices were dedicated lucratively to meaningful activities, insecurity would be minimized.

“I can tell you that if our borders remain closed for two years, the problem of” Boko Haram,” Kidnapping, Banditry, and” Yahoo-Yahoo “will stop.

“CBN will promote this policy by ensuring that we produce what we consume and eat what we produce. He promised that the central bank would not allow the country to be used as a landfill for smuggling goods.

Emefiele, however, denounced the actions of some neighboring countries that, according to him, were not helping.

Latest Nigeria newspaper report that The governor explained that, instead of some neighboring countries developing policies to grow their economies, they got involved in things that undermined the Nigerian economy.

He said that when Nigeria, as a country, raised import tariffs on rice to discourage importation, those neighboring countries reduced their taxes to get rice imported smuggled into the country.

“We no longer want what they are importing to our country because we can produce them, and CBN will do everything possible to promote national products,” he said.

Latest Nigeria newspaper report that Emefiele challenged young people and older adults to devote themselves to agriculture because it was one of the main ways to grow the economy.