Nigeria's major problems are insecurity, poverty - Emefiele

Nigeria's major problems are insecurity, poverty - Emefiele

- Godwin Emefiele has identified unemployment and poverty as two problems bedeviling the country

- The CBN governor urged Nigerians to go into mechanised farming

- Emefiele said the CBN under his administration has been re-positioned

Godwin Emefiele who is the governor of the Central Bank of Nigeria CBN) has identified poverty and unemployment as the country's major problem.

The Sun reports that the CBN governor spoke in Lokoja, during a three day sensitisation seminar for bank customers tagged CBN Fair.

Represented by the assistant director, corporate communications department of the CBN, Emefiele said the CBN under his leadership has been re-positioned to be highly professional, people-focused, apolitical.

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He said: “We now have a Central Bank that is strictly devoted to building a resilient financial system that can serve the growth and development needs of our beloved country , Nigeria.

"The economic growth in the country was not too favourable because of foreign exchange used in importing some goods which could naturally be produced in the country."

According to him, the CBN had identified about 41-43 items that could now be produced locally to boost the economy and that this has accounted for the reduction of foreign exchange rate.

The CBN governor urged Nigerians to go into mechanised farming saying their were incentives including loans to farmers especially on rice production and other items that could help boost their output and in turn boost the economy.

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Meanwhile, Timi Frank, a political activist and former deputy national publicity secretary of the All Progressives Congress (APC), asked the Senate to hold the confirmation of Godwin Emefiele for second term as the governor of Central Bank of Nigeria.

According to the press release made available to, the political activist said the reason is that the CBN governor has some explanations to do over the leaked audio exposing the missing N500 billion under his administration.

Frank said that it would be very bad for the nation if Emefiele confirmation goes through without the public knowing how such big amount of money went missing. ( -> We have upgraded to serve you better

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