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CBN Gov. Emefiele, rubbishes chances of hope for the economy, but…

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Contrary to high hopes of Nigerian economic analysts that the reappointed governor of the Central Bank of Nigeria (CBN), Mr Godwin Emefiele, will present a message of hope in his five-year monetary policy roadmap for the apex bank, he has once again, warned that the nation’s economy remains fragile.
Key in his new plan includes recapitalization of banks in the country.
The position is coming almost two years Nigeria slipped and hurriedly exited a harsh economic recession under his watch.
Giving more details in his second tenure monetary policy roadmap, his body language and that of his roadmap suggests levels of hopelessness and bright future if policies rolled out by the apex bank is corroborated with the yet to be named and inaugurated Federal Executive Council’s (FEC) fiscal policies.
Analysts who had seen the new roadmap told Business Hilights in separate interviews that through, the new roadmap is clear and good, there are fears that Emefiele may not get the prerequisite support from the executive arm of the government which is in charge of fiscal policies.
According to them, from the roadmap, there are chances that more goods may be enlisted into the basket of forex restriction at a time pressure for Nigeria to join the African Continental Free Trade Area (AfCFTA) is hitting up both internally and externally.
Also, there are fears that the new roadmap may not be easy to implement if politicians rather than real technocrats are appointed into sensitive ministerial positions in the highly awaited new cabinet of President Muhammadu Buhari’s second term.
Besides, the continued support to farmers may be frustrated if the jumping insecurity crisis rocking several agro-inclined states is not tamed as soon as possible.

Business Hilights is an online news channel conceptualized and structured to report and track on a daily basis; latest developments in critical business sectors to serve as a one stop news gateway for governments, foreign and indigenous investors.