Procurement News Notice |
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| PNN | 8074 |
| Work Detail | The Central Bank of Nigeria, CBN, Governor, Mr Godwin Emefiele, has said that the bank will begin to deploy appropriate monetary tools to ensure inclusive growth by bolstering productive capacity that will bring about economic self-sufficiency. Emefiele who made this known at the Senior Executive Course 38 at the National Institute of Policy and Strategic Studies in Kuru, near Jos, urgeNigerians to face the reality of the fact that present situation in country and across the globe was not normal and the situation requires for a turnaround through making hard choices. The governor said that developments over the last two years shows that these are not normal times by any stretch of imagination adding that “the CBN has always tried to act in good faith, with the best available information and in cognizance of current economic conditions, to pursue the goals of price and financial system stability, as well as catalyze job creation and inclusive growth in the country.” He therefore urged Nigerians to remain resolutely committed to the course and be motivated by the achievability of the desire to strengthen the economic fundamentals. He clarified: “When we stop importing toothpicks, stop eating imported rice cultivated with chemical, stop eating chicken imported and preserved with formaldehyde, then our economy will begin to grow. “20 years ago, we had textile, we had the groundnut pyramids, Cocoa with which the legendry Cocoa House was built and palm oil. We also used revenue from agriculture to build our economy. But after we found oil, we abandoned all that for easy money. Today, we are suffering the consequences ”, the CBN chief added. Responding to questions on Treasury Single Account, TSA, Emefiele, said that its introduction was one of the best and boldest decision any administration in the country had so far taken. According to him, the impression that the TSA was stifling banks was created to draw unnecessary sympathy, adding, “it is unfortunate that this is the way the banks have interpreted it. When I was in the bank, how much loan did I give you as a Small and Medium-sized enterprise?”, he quipped. |
| Country | Nigeria , Western Africa |
| Industry | Financial Services |
| Entry Date | 15 Oct 2016 |
| Source | http://nationalmirroronline.net/new/cbn-assures-on-right-monetary-policies-to-grow-economy/ |
