It is difficult managing an economy in recession – CBN Governor, Emefiele

Godwin Emefiele

The Governor, Central Bank of Nigeria, Godwin Emefiele, has admitted that managing the nation’s economy at this moment is very difficult.

According to to him, it would take the collective cooperation of every Nigerian to make the country come out of the current economic challenges.

Emefiele said this while receiving members of the Senate Committee on Finance, Insurance and other Financial Institutions, who paid an oversight visit to the apex bank in Abuja on Monday.

He said, “I am delighted that not only the committee but the entire Senate has worked closely with the Central Bank of Nigeria, receiving constant briefings about our activities and some of the things we have done to lift our country from the current situation that we are to prosperity.

“I must confess that it is difficult, but I must also say that the challenges are easily surmountable. We will continue to crave the support of the Senate; we will continue to crave the support of the committee, just as you have done in the past, to help achieve the common objective of lifting our country and making Nigeria an inhabitable place for Nigerians.”

Speaking earlier, the Chairman of the committee, Senator Rafiu Ibrahim, said the oversight visit was imperative because of the current economic situation in the country.

He said, “At this time, we are officially in recession; we believe that we have to work more together more than before. Even for those that have dual citizenship, Nigeria will still be number one.

“In the area of monetary policy, most Nigerians believe that most of the policies have failed because of the problem of recession.”

Few weeks back, the apex bank boss had assured that Nigeria would come out of recession before December.

Via Daily Post

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