Emefiele, CBN governor wins award in US, calls for more investments into Nigeria, African countries
- Godwin Emefiele, Governor of the Central Bank of Nigeria, has been honoured in the United States of America.
- During his remarks, Emefiele utilized the occasion to push for increased investment in Nigeria and other African countries.
- Emefiele strongly believes that Nigeria is full of opportunities that investors can tap into profitably
Godwin Emefiele has urged investors in Washington to consider investing in Nigeria and other African nations.
Emefiele made the remarks during his acceptance of the EuroKnowledge award at the FIN Banking on Emerging Markets Forum.
The event took place on the sidelines of the ongoing IMF/World Bank annual meetings in Washington.
Source: UGC
BusinessDay reports that he specifically told investors that confidence was rising in Africa and urged them to consider Nigeria, Angola, South Africa and Egypt for investments due to huge growth opportunities there.
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Emefiele stated:
“Nigeria, Angola, South Africa and Egypt are economies that you would need to think about.
"And I dare say these economies hold a lot of strong opportunities for high yields and profitable projects and I can only seize this opportunity to encourage our friends in the foreign investment community to continue to take a look at Africa. Africa yearns for growth and development.
“We cannot do this alone; we will continue to need the support of the rest of the world. But I can assure all of us that as you do this, the opportunities are there and you will not regret taking the opportunities."
CBN governor further stressed that the opportunities are there for investors ready to make good returns on their investments.
"I can only continue to say let’s give support to Africa let’s give the support to Nigeria. We should all continue to work together for the growth, not just for our individual countries but for Africa as a whole.”
Emefiele speaks on his award
Speaking on its award, Emefiele dedicated the award to his colleagues at the CBN as well as other Nigerians for their support, assuring that the recognition would encourage him to do more.
He said:
“When your credentials and all you have done is being read out to the public, you begin to wonder how you managed to do all this. But what this does is to encourage you to do more."
“When we talk about the challenges that we are currently facing, I can tell you that it hasn’t been easy in the last eight and half years, where we have gone through two recessions – one between 2015 and 2016 and another short-lived one in the second and third quarter 2021 during the period of Covid-19.
“Usually as the Governor of a Central Bank, you never pray to go through a recession twice but we have managed to go through this with a lot of hard work and support from our colleagues at the CBN, all our departments and members of our monetary policy meeting. We really want to thank all of you.
“This award is not just for me, it is meant for all of us who have worked hard in the last eight and half years to keep Nigeria strong and going.”
Banks release names of customers using fake visa to buy cheap dollar for resale
Meanwhile, in compliance with CBN directives, ten Nigerian banks have revealed the names of customers buying cheap dollars to resell on the black market likely.
In a circular in July 2021, CBN directed banks to publicize the identities of persons who engage in such behaviour and to restrict them from obtaining currency in the future
The huge gap between the black market and the official rate has further created a market for some unscrupulous Nigerians to profit from
Source: Legit.ng
