Business

“We’ll shape Nigeria out of recession”, CBN vows

The Central Bank of Nigeria on Wednesday said it would not be deterred in its effort to steer the Nigerian economy away from the looming recession due to the impact of COVID-19, PUNCH reports

It said this was in spite of the push by some vested interests to impugn the integrity of the bank.

The Bank’s Director, Corporate Communications Department, Isaac Okorafor, said the bank had uncovered sinister plans by some persons in Nigeria’s economic and socio-political space to distract the CBN.

He said such persons want to discredit the institution through deliberate misinformation, complete fabrications and outright lies.

He, however, noted that the CBN Governor, Godwin Emefiele, and his team at the bank would not be deterred by the actions of such persons.

Okoroafor said the bank, in pursuit of its mandate enshrined in the CBN Act 2007, as Amended, would continue to strive to ensure accretion to the external reserves to safeguard the international value of the naira.

He added that it would continue to ensure that no individual or institution circumvents the system.

According to Okorafor, the naira, in the past three years, had remained stable against other world currencies, due to strict measures put in place by the CBN to check cases of round-tripping.

He said the bank, working with other relevant agencies of government, had equally curtailed the activities of economic saboteurs neck-deep in smuggling and other economic crimes.

He noted that those opposed to the policies of the CBN would not relent in their effort to undermine the bank, but stressed that the bank remained resolute to the dictates of its enabling Act.

The CBN spokesperson said the bank would not be distracted by subjective criticisms from persons who do not mean well for the general good of the Nigerian people and the economy.

Gift Adene

Gift Adene is an Entertainment and Society News writer, a Chronicler of celebrities and King of Rumor Has it. Gift holds a BSC in Computer Science and MSC in Information and Communications Technology. He is a Machine Learning and Data Science enthusiast, a ProBlogger, Digital Marketer and social media savvy. Gift loves Python Programming Language, HTML, CSS and JavaScript. Address: 64 Igbeyin adun Nigeria.

Related Articles

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Back to top button