Emefiele to unveil details of second term policies on Monday - BUSINESSDAY

JUNE 24, 2019

By Hope Moses-Ashike 

Godwin Emefiele, governor of the Central Bank of Nigeria (CBN) will on Monday unveil the details of his policies for the second term.

The policies of Emefiele who was re-appointed for a second term as the CBN governor by President Muhammadu Buhari will center on growth.

Isaac Okorafor, director corporate communications department disclosed this in Lagos at an interactive session with stakeholders at the weekend.

The private leaders had two weeks ago at a consultative roundtable with the CBN governor, set agenda for Emefiele as he assumed office for the second term.

The leaders pointed some key focus areas that will help stimulate growth in the economy, such as infrastructure, specifically power, import substitution, consumer credit, mortgage, financial inclusion and Information and Communications Technology (ICT), among others.

At the sensitization forum with the organised labour, Okorafor engaged with the participants on understanding the CBN – vision, mission, mandate and its recent policies.

Other issues discussed at the meeting included monetary policy of the CBN and measures to ensure financial system stability, CBN consumer protection, financial literacy and financial inclusion drive, clean note policy and handling of the naira and CBN development finance initiatives.

He said the CBN has given Deposit Money Banks from June 3rd to September 2nd to return all mutilated naira notes at their disposal fir re-issue.

The regulator had since last year been engaging with banks to withdraw the mutilated currency notes in circulation for destruction.

“We are telling customers including labour to return all the dirty notes to their banks and the banks will bring those notes to us for re-issue and that if any bank is refusing to take those notes, they should call us and we will take action on that”, Okorafor said.

He explained that the meeting with the leaders of the organised labour is part of the CBN’s communication campaign to constantly engage with most important group in the country who have stakes in the economy.

Here we have met with organised labour from the South West. Last week we were in Owerri or South South and. South East. We have engaged them on the entire gamut of CBN activities, what its duties are, what we have tried to do in the last five years and what we are going to do in the next five years, and to also get feedback from them that will form part of our programme for the next five years”.

The leaders of the organised labour expressed support for the CBN going forward because they are satisfied with what CBN has achieved in the last five years.

“We should partner with the CBN as organised labour to realize its vision in developmental finance and other policies”, Issa Aremu, Vice President industrial trade union said.

“On the mutilated notes we are carrying the campaign we have initiated at the back to say yes Nigerians are complaining about dirty or mutilated notes and that CBN has given banks between June 3rd and September 2nd to bring back all the mutilated notes for us to reissue them”, Okorafor said.

Hope Moses-Ashike 


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