CBN: Emefiele’s reappointment ‘ll stabilise Nigeria’s macroeconomy, Kwara comm, others react

Stories by Matthew Denis

The nomination of the current Governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, for another five-year term by President Muhammadu Buhari has been widely commended by some Kwarans.  If confirmed by the Senate, Emefiele will become the first governor of the CBN to serve a second term since 1993.
In his reaction, President of Kwara Coalition of Business and Professional Associations (KWACOBPA), Chief Hezekiah Adediji  said it is a step in the right direction.
He noted that the CBN governor is one of the few people whom the president has confidence in who can turn around the economy of the country.
Similarly, the Kwara State Commissioner for Planning and Economic Development, Alhaji Wasiu Odewale asserted that the reappointment would stabilise Nigeria’s macro-economic decisions, saying, “monetary stability is a major issue in any economy,”
“It is good for policy consistency and stability in a volatile economy like we are running today in Nigeria. We don’t have any more time to waste. Thus, the government has no time to waste again because, Nigerians cannot be patient with them after all waste and trial by error policies in the last three and half years.
On his part, the Managing Director, Kwara State University Microfinance Bank, Alhaji Hakeem Hassan noted that the development would bring about consistency into the financial system, but frowned at some of the policies introduced by Emefiele.
He said, “As an operator in the microfinance sub- sector, I wish to state that he initiated some hard line policies that are not favourable to the sub-sector.”
The Lead Strategist of Nigeria Workforce Strategic and Enlightenment Centre (NIWOSEC), Dr. David Kayode Ehindero stated that Emiefiele’s reappointment as CBN governor   is well deserved.
“He faced his job and did not politicise his activities. I am particularly impressed by his achievements in the Agriculture sector and youth empowerment. His appointment has justified Mr President’s stance as a man that believes in quality performance.
An Economic Consultant, Mr. Anayo Ezenowi emphasised that Emefiele has achieved what is expected of him as the nation’s currency is now stable and the country’s inflation rate is drastically coming down.
He said, “The reappointment of Emefiele as the CBN governor will have positive effect on  Nigeria’s financial system, however, he advised the Governor to introduce policies that will benefit micro, small and medium enterprises such as reduction in  collateral requirements for loans in  commercial banks.
Prior to his appointment as the CBN Governor in 2014, Emefiele served as the Managing Director of Zenith Bank, one of the leading banks in the country.