Home / News / Nigeria may slide into another economic crisis – CBN Governor

Nigeria may slide into another economic crisis – CBN Governor

The governor of Central Bank of Nigeria (CBN), Godwin Emefiele, has shown fears that Nigeria may slide into another recession if measures are not put in place to combat the high rate of unemployment and other economic crisis.

Emefiele said this on Wednesday, May 22, at the University of Benin, while delivering a lecture titled: Beyond the Global Financial Crisis: Monetary Policy Under Global Uncertainty, Daily Trust reports.

According to Emefiele, monetary and fiscal policy authority must be ready to challenge the situation and begin to think of what can be done to tackle the the situation.

The CBN governor said: “From some of my concluding remarks, you may have observed whether you like it or not, there is global uncertainty that will unfortunately most certainly, lead to another crisis.

“The question could be, how are we, as Nigerians, particularly our leaders, I am talking of Monetary and Fiscal Policy Authority, how are we preparing our country for the next set of crisis?”

“We have luckily exited recession. We have seen recession pending downward to about 18.72 percent in 2017 to about 11. 37% today.

“We see reserve moving up, exchange rate stabilizing but unfortunately, we still have issue and those issues bother on unemployment rate.”

He also assured that the apex bank will continue to take active approach to reduce the likely adverse effects that may emanate from external headwinds.

Thoughts?

CLICK HERE to follow us on Instagram so as to get Story updates on published posts.
CLICK HERE To Follow Us on Twitter for Live Updates on Twitter
CLICK HERE to Follow Our Page on Facebook to get live updates on published post

Comments

comments

Check Also

Suspect reveals he can hack into any account, withdraw money from it, even if phone is locked

Most Nigerians and mobile phone users all over the globe usually lock their phones, thereby …

Share Your Comments on This Post Here

%d bloggers like this: