Godwin Emefiele, the Central Bank of Nigeria’s (CBN) Governor assured investors in a statement delivered Sunday, 10 May, by the Director of Corporate Communications Department. The outbreak of the pandemic disease in Nigeria evidently has a crippling effect on the economy. Investors in Nigeria are scared of this unfortunate development.
Emefiele reassured investors that despite the difficult situation in the country and the uncertainties of the current period, investors looking to take back their money from the country would get their money back. The Central Bank of Nigeria already put policies in place to see to the smooth exit of investment. He urged investors to remain calm as policies are in place and the process of repatriations is ongoing.
According to him, any delay experienced in repatriations is a result of the apex bank’s policy of orderly and smooth exit of investments. Buttressing his point, he recalled a similar situation five years ago (2015) when the country experienced a drop in oil revenue. Going further, he announced that the apex bank disclosed a collaboration with the Federal Ministry of Industry, Trade and Investment to improve the economy of the country’s manufacturing sector.
In the same breath, he made known that the apex bank met with other banks and manufacturers to look into how to paddle the nation’s economy out of the shock. Emefiele stated it is imperative for the country to diversify and locally make available what is consumed by the country.
