Nigerians’ll Feel Impact Of CBN Devt Finance Efforts By 2021- Emefiele

Nigerians’ll Feel Impact Of CBN Devt Finance Efforts By 2021- Emefiele

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Post Views: 291 Governor of the Central Bank of Nigeria (CBN), on Wednesday, assured that Nigerians will begin to feel the impact of apex banks’ devel...

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Governor of the Central Bank of Nigeria (CBN), on Wednesday, assured that Nigerians will begin to feel the impact of apex banks’ development finance initiatives within the next two years under his watch.
Emefiele, who was responding to questions when he was being screened, following his nomination by President Muhammadu Buhari for a second and final term in office term in office by the Senate Committee on Banking, Insurance and Other Financial Institutions, however, noted that more needed to be done to get Nigeria to the desired heights.
Alluding to the pace of development in some Asian countries that were Nigeria’s peers at independence in 1960, Emefiele promised to implement policies for the betterment of the Nigerian people, who are at the heart of its vision of a people-centered Central Bank.
Members of the committee lauded the apex bank and Emefiele for contributing immensely to the stability of the Nigerian economy, in spite of the recession the country witnessed in 2016.
The committee chairman, Senator Rafiu Ibrahim Adebayo said Emefiele’s renomination was an indication that the President recognized the bank’s contribution to the health and stability of the economy.
Adebayo, who also dismissed recent allegations of fraudulent activities in the CBN through a leaked audio tape,expressed satisfaction with Emefiele’s presentation, even as he charged the governor, the CBN board and members of the Monetary Policy Committee not to be deterred, but rather redouble their efforts and ensure the promotion of a sound and stable economy
Also commending the CBN Governor on the successful reforms carried out during his first tenure, other senators, who took turns to speak, called for greater improvement in the areas of foreign exchange management, development finance and access to credit among others. They also sought clarification on the issue of foreign exchange windows
The screening exercise followed the call by the President of the Senate, Senator Bukola Saraki, to the committee at the plenary on Tuesday to carry out the screening and report back to the Senate within one week.
Emefiele was appointed as CBN Governor on June 2, 2014, is due to end his first tenure on June 2, this year.
President Buhari last week transmitted a letter to the Senate requesting that Emefiele be confirmed as CBN Governor for a second and final term of five years.
Meanwhile, it is expected that the Senate will confirm Emefiele’s nomination as the CBN governor next week after receiving the report of the Committee on Banking, Insurance and Other Financial Institutions.

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