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UPDATE: Senators endorse renewal of Emefiele appointment as CBN Governor

UPDATE: Senators endorse renewal of Emefiele appointment as CBN Governor


Members of Senate Committee on Banking, Insurance and other financial institutions on Wednesday supported renewal of appointment of Central Bank Governor, Godwin Emefiele.

This just as the Emefiele revealed that Nigeria population will hit 425 millions by year 2050.

At the screening of Emefiele, the Chairman of the Committee, Senator Rafiu Ibrahim expressed satisfaction with the tenure of Emefiele as CBN governor.

According to him, I do not have any question for the Governor. I am overwhelmed. I wish you well and pray for you. May God continue to guide you.

He added, “Now, we know the reason why there are some videos on social media because in Nigeria, once you are a good person, some people will always try to bring you down. We will expeditiously take a report to the chamber for consideration. You can take a bow.”

In addition, Senator Kurfi Umaru applauded the CBN governor for good job as the Chief Banker of the country.

Kurfi said, “Let me start by congratulating the governor for his second term and also congratulate you for your article presentation. I commend you for a job well done.”

Philip Aduda from FCT said: “Mine is to wish you well and to pray to God almighty to grant you wisdom so that you can put the economy of this county on a pedestal of hope and prosperity. Congratulations.”

Emefiele in his presentation said,” We just came back from the IMF/World Bank programme in April. And in the World Bank’s/IMF’s World Economic Outlook, Nigeria is positioned as a country whose population will grow and rise to over 425 million people by the year 2050. That will present Nigeria as a country with the third largest population in the world after China and India and indeed surpassing the United States of America in population.

” I worry and I do think that we all should worry that a lot of work needs to be done to make sure that we are able to out in place policies that will make life good for this 425 million people when we are the third largest population in the world.

“So, we from the Central Bank of Nigeria from the monetary policy side, have come to realisation that using the instrumentality of the Anchor Borrowers Programme where acesss to credit is being provided to our masses all over the country, that it will be a way to generate employment and boost economic activity amongst our rural population.

“I visited one of the Asian countries recently and happy with what I saw but I came out of the country sad. Sad because I could see the level of development that this country has achieved over the last 50 years. And I cast my mind back and look at my country Nigeria that what have we achieved?

“This is what gives me the push that at my age of 57, I saw this country when it was good. That I am looking at the country today, I don’t want to say it is bad but I want to say that we have a lot of work to do. Because the country has no doubt receded somewhat.

“So from our side in the monetary policy, we will do everything possible to ensure that with the mandate that is bestowed on us, we will push this country forward”.

For a better society

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