Emefiele Targets Two-Digit Economic Growth

The Governor, Central Bank of Nigeria (CBN), Mr. Godwin Emefiele has reiterated that the central bank is working toward achieving double-digit economic growth and single-digit inflation rate in the Nigerian economy by 2024 as part of his five-year policy thrust.

Mr. Emefiele made this pronouncement in Calabar at a town hall meeting with Nigeria Labour Congress (NLC) and the Trade Union Congress (TUC) for the SouthSouth zone members.

The Acting Director, Corporate Communications Department, Mr. Osita Nwanisobi, who represented the Governor at the interactive meeting, spoke on the various intervention programmes of the Bank aimed at stabilising and growing the nation’s economy.

Mr. Nwanisobi said that over three million farmers had been engaged via the Anchor Borrowers’ Programme (ABP). The CBN Spokesman added that the Bank had awarded grants to five health researchers under the CBN’s Healthcare Sector Research and Development Intervention Scheme (HSRDIS) to aid in the development of vaccines and drugs to combat communicable and non-communicable diseases, including COVID-19.

The CBN Spokesman further shed light on CBN’s cash-less policy, diversifying the economy, and the Bank’s sustained drive for financial inclusion.

Speaking on behalf of organised labour and civil society groups, Mr. Isa Aremu, Director-General, Michael Imodu National Labour Institute for Labour Studies (MINILS) Ilorin, Kwara State, expressed support for the Bank’s restriction of forex to Bureau de Change (BDC) operators in the country.

The labour officials also felicitated the CBN Governor as he clocked 60 years on August 4, 2021.

Presentations were made by representatives from Consumer Protection Department (CPD), Currency Operations Department (COD), Development Finance Department (DFD) and Payment System Management Department (PSMD).

The highlight of the event was the question and answer session after the presentations.