Border Closure Helping Our Economy, Says CBN Governor
*No more forex for importers of cassava, starch, ethanol , other derivatives
The Central Bank Governor, , Mr. Godwin Emefiele Thursday said the closure of the nation’s borders has been helping Nigerian economy.
Emeifele who commended the federal government for the measure said the agriculture sector has been benefitting from the closure.
The CBN Governor who spoke during a meeting with state governors on how to make states economically viable through agriculture said the closure of the border has been more effective than its blocking of bank accounts to check smuggling.
According to him, the border closure by the federal government has become a game changer.
He said, “Whereas at the CBN we have been doing everything possible through blocking of accounts and all that to restrict smuggling of rice into the country, but we think the border closure has resulted in very good result for all of us and I will give you an example.”
He said before now, two rice millers had come to him to say that though they had 30,000 metric tonnes each to sell, no one was buying because of smuggling.
Emefiele added, “One week after the border was closed, these millers came back and said that all the rice in their warehouses had all been purchased and that in fact, they were even stopping people from paying monies into their accounts because they can’t meet demand again.
“That is a good example. What are we doing through this – it is creating jobs for our people. We need to support any efforts that would create jobs and avoid exporting jobs to other countries.”
The CBN governor had also during the meeting said the apex bank will no longer provide foreign exchange to importers wishing to bring cassava, starch, ethanol and other derivatives into the country.
The Chairman of the Nigeria Governors Forum (NGF) Mr. Kayode Fayemi, had during the meeting commended the CBN governor for having the passion to revive key sectors of the Nigerian economy.
Fayemi said the only way the economy can survive was through agriculture, adding that the CBN intervention was commendable.
Other governors who attended the meeting were those of Lagos, Jigawa, Anambra, Zamfara, Bauchi, Imo, Benue, Borno, Kebbi, Ogun, Adamawa and Gombe and Sokoto states.
The federal government had recently announced the measure to close the nation’s land borders.
Operatives of the Police, Nigeria Customs Service and Immigration Service are enforcing the order.
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