Emefiele woos investors, says Nigeria ready for business

THE Central Bank of Nigeria (CBN) has assured investors and the international community that the country having gone through a successful election, was ready for investments.

The CBN Governor, Mr Godwin Emefiele, last Friday in Washington DC, held an informal meeting with potential investors where he enticed them with the Nigerian success stories, especially in agriculture.

Emefiele said that the Anchor Borrowers Programme, which targets local farmers was one of the major achievements of the bank under its development interventions.

“As at December 2018, a total sum of N178.48 billion had been disbursed through 19 participating financial institutions to 902,518 farmers.

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“During the period, over 2.8 million and 8.4 million direct and indirect jobs were created under the Anchor Borrowers Programme,” he said.

On the country’s foreign exchange policy, Emefiele said that the focus had always been to ensure price stability.

He highlighted some of the foreign exchange reforms undertaken by the bank, which included the ban of the 41 items, the establishment of the investor’s and export’s window and the SME Window of the foreign exchange market.

According to him, this resulted in stable exchange rate, foreign exchange liquidity, vibrancy in the capital market, improved supply of foreign exchange supply with positive impact on GDP growth.

Emefiele said also that Nigeria, through its financial inclusion strategy had recorded a lot of progress in giving its adult population access to a broad range of formal financial services at an affordable cost.