Border closure’ll tackle all security challenges – CBN gov

By AdvocateNews on 02/11/2019

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Emefiele
Emefiele

The Governor of the Central Bank of Nigeria, Mr Godwin Emefiele, says if the closure of the border is sustained for the next two years, it is capable of tackling all the security challenges currently being experienced in the country.

Speaking at the first convocation lecture of the Edo University, Iyamho, on Friday, Emefiele stressed that issues of insurgency, banditry and kidnapping would be totally eradicated if the closure is sustained.

He added that if the youth in these vices were gainfully engaged in meaningful activities, the insecurity would reduce to the barest minimum.

The governor, while responding to questions after his lecture titled, ‘The role of monetary policy towards economic growth in Nigeria,’ said, “I can tell you that if our borders remain closed for two years, the issue of Boko Haram, kidnapping, banditry and ‘Yahoo-Yahoo’ (Internet fraudsters) will stop.

“CBN will promote this policy by making sure that we produce what we consume and eat what we produce.”

While decrying the actions of some neighbouring countries which he said was not helping matters, Emefiele vowed that the apex bank would not allow the country to be used as a dumping ground for smuggled goods.

The apex bank governor explained that instead of some neighbouring countries to develop policies to grow their own economies, they engaged in things that undermined the Nigerian economy.

He said when Nigeria as a country increased import duty on rice to discourage importation, such countries reduced their duties to get rice importation to be smuggled into Nigeria.

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

Emefiele challenged youth and old to go into agriculture because it was one of the major ways to grow the economy.

He said when Nigeria as a country increased import duty on rice to discourage importation, such countries reduced their duties to get rice importation to be smuggled into Nigeria.

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

Emefiele challenged youth and old to go into agriculture because it was one of the major ways to grow the economy.

Posted 02/11/2019 03:33:13 AM

 

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