By Abdallah el-Kurebe, Editor
The Kaduna Central Senator-elect Malam Uba Sani has applauded President Muhammadu Buhari’s retention of
Chief Godwin Emefiele as Governor of the Ceñtral Bank of Nigeria, saying it is the best decision for our economy.
The Senator-elect said the President’s decision is proof of his good intentions for Nigeria’s economic recovery and stability a task at which Emefiele, against all odds, has succeeded beyond expectations.
“The renomination of Mr. Godwin Emefiele as Central Bank Governor for second term by President Muhammadu Buhari must gladden the hearts of genuine Nigerian patriots interested in the progress of our country and the building of a vibrant and dynamic economy.
“One of the most impressive feats achieved by Emefiele is the steering of the ship of the economy through the difficult waters of recession and the tough hurdles on the way to achieving monetary stability and recovery,” he said.
Senator Sani said it must have been tough for the amiable Emefiele to stay focused on his goal, and refused to be distracted considering the mad clamour for his ouster that characterized most part his five years as CBN Governor.
“We must also commend President Muhammadu Buhari for not yielding to the emotional partisan clamour to oust Chief Emefiele then and for retaining him now.
This bold and well thought out decision by Mr. President is highly commendable and must be fully supported by all and sundry as we reposition our economy to confront the monumental challenges facing our dear nation
“Today, we can all see the positive impact Emefiele’s critical decisions at critical moments have had on the economy: from his tight forex control – banning of 43 items, to several revolutionary initiatives, like the Anchor Borrowers’ Programme(ABP) among others,” he said.
Specifically explaining the successes of the ABP, Sani said it created economic linkage between smallholder farmers and reputable large-scale processors with a view to increasing agricultural output improving capacity utilisation of processors.
“The bold initiative also increased banks’ financing to the agricultural sector, reduced agricultural commodity importation and conserved external reserves, increasing capacity utilisation of agricultural firms , creating new generation of farmers/entrepreneurs and employment, deepened the cashless policy and financial inclusion, reduced the level of poverty among smallholder farmers, and assisted rural smallholder farmers to grow from subsistence to commercial production levels.
“The result is clear in the increase in agricultural produce from this policy. Emefiefle no doubt deserves credit for his massive support to this critical sector,” the Senator-elect said.
He pointed out that Emefiele’s giant strides have also received profuse commendations from the International Monetary (IMF), the World Bank and other international financial institutions.
“Banks and other key financial institutions in Nigeria have equally expressed confidence in Mr. Emefiele’s ability to take our economy to the Next Level. Mr. President indeed got it right.
