– CBN Governor Godwin Emefiele has disclosed that Nigeria will slide into recession again
– He, however, stated that effort must be put in place to combat unemployment and economy crisis in the Country
The Governor of the Central Bank of Nigeria CBN, Godwin Emefiele has disclosed that the Country will slide into recession again.
He disclosed that there are certainty that it will happen owing to global uncertainty.
The CBN Governor however added that effort must be put in place to combat unemployment and economy crisis in the country.
Godwin Emefiele made this known Today at the University of Benin, where he delivered a speech titled ” Beyond The Global Financial Crisis: Monetary Policy Under Global Uncertainty.”
The CBN Gov. in address questioned on the preparedness of Nigeria for the next set of crisis.
He disclosed that Nigeria luckily escaped the last recession.
Below is an extract from Godwin Emefiele’s statement, he said,
“The question could be, how are we, as Nigerians, particularly our leaders, I am talking of Monetary and Fiscal Policy Authority, how are we preparing our country for the next set of crisis?”
He said “we have luckily exited recession. We have seen recession pending downward to about 18.72 percent in 2017 to about 11. 37 percent today. We see reserve moving up, exchange rate stabilizing but unfortunately, we still have issue and those issues bother on unemployment rate.”
He, however gave assurance that the CBN will continue to take proactive measures in order to mitigate the likely adverse effects that may emanate from external headwinds should it happen.
In another report, Godwin Emefiele was reappointed for another term as the Governor of the Central Bank of Nigeria CBN by Pres. Muhammadu Buhari some weeks ago.