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Emefiele Begins Second Tenure, to Unfold new 5-year Roadmap for CBN, Economy

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Governor of the Central Bank of Nigeria, Godwin Emefiele, on Monday, June 3, 2019 formally assumed duty for a second term after subscribing to the relevant Oath of Office administered by Alice Karau, the apex bank’s secretary and director, Corporate Secretariat Department.

This was sequel to Emefiele’s reappointment by President Muhammadu Buhari and confirmation by the Senate.

Emefiele, who was received into the bank by the four deputy governors, was elated by the turnout of excited staff that thronged the venue of the oath-taking ceremony chanting his name.

In his remarks after the oath-taking ceremony, Emefiele expressed gratitude to God, President Buhari for nominating him, and the Senate for confirming his reappointment. He also thanked the management and staff as well as the media for their support during his first term in office.


Emefiele said he would unfold a new roadmap for the bank and the economy in the days ahead after series of consultations with critical stakeholder groups. He charged all stakeholders to strengthen efforts at building a healthy and stable system in the best interest of Nigeria.

Emefiele also reiterated the goal to make the CBN more people-focused, adding that the bank remained resolute in the belief that it must play an active role in supporting job and wealth creation in Nigeria.

 

In reviewing the various efforts taken by the CBN to reduce weaknesses in the Nigerian financial system as well as support improved productivity of the economy, Emefiele said more work still needed to be done in building a stronger economy for the benefit of all.

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He said the pace of Gross Domestic Product (GDP) growth, at below the rate of Nigeria’s annual population growth at 2.7 percent, remained fragile. He, therefore, pledged that the bank would continue to collaborate with the fiscal authorities to strengthen growth and wealth creation in the country.

“We must strengthen our efforts over the coming years to stimulate growth and job creation in critical sectors of the economy, which will help insulate our economy from shocks in the global economy,” Emefiele said.

“We must also work to build a healthy and stable financial system that contributes to the growth of our economy, while preserving price stability,” he added.
The CBN governor is expected to address a World Press Conference next week, where he will unfold a new roadmap for the apex bank and the economy.

Source: Businessdayng

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