- CBN governor Emefiele has revealed why FG may not reopen land borders soon
- FG had closed all the land borders to the country to prevent illegal transactions in the country
- Emefiele disclosed that the closure of the borders has started yielding results
Despite the public outcry over the closure of borders by the federal government, the governor of the Central Bank of Nigeria (CBN), Godwin Emefiele, has said that the nation’s land borders would remain closed until neighbouring countries meet the requirements for it to be reopened.
The Cable reports that Emefiele said this on Monday, October 28, while speaking to journalists after a meeting with President Muhammadu Buhari in Abuja.
Legit.ng gathered that the federal government had closed the borders to curb illegal trading activities by Nigeria’s neighbours.
The comptroller-general of the Nigeria Customs Service (NCS), Hameed Ali, had said that the borders would remain closed until the country and its neighbours agree on existing ECOWAS protocol on movement.
Speaking after his meeting with President Buhari, Emefiele said the affected countries must first have “concrete engagements” on mutual anti-smuggling policies.
He explained that the smuggling of goods through the neighbouring countries undermines Nigeria’s economic policy.
“We are not saying that the borders should be closed in perpetuity, but that before the borders are reopened, there must be concrete engagements with countries that are involved in using their ports and countries as landing ports for bringing in goods meant for local consumption, it is understandable.
“But the fact that those products are landed in their countries and then transshipped or smuggled into Nigeria is something that I am sure you all agree as Nigerians we should not allow happening because it undermines our economic policy, it undermines our own desire to make sure that industries are alive and jobs are created in Nigeria,” Emefiele said.
Emefiele further said that the country’s rice and poultry farmers have, since the closure, recorded improved sales.
He said: “Recently, and this is the absolute truth, about two weeks before the border closure, the chairman of the rice processors association, incidentally, he owns Umza Rice in Kano, called me and said that all the rice millers and processors are having in their warehouses nothing less than 25,000 metric tons of milled rice."
He said the poultry associations expressed satisfaction over the huge sales from their business, adding that that the demand is rising on daily basis.
The CBN governor described the improved sale of rice and poultry products as the benefit of closing the borders.
Meanwhile, Legit.ng had previously reported that Vice President Yemi Osinbajo pleaded with Nigerians to bear with federal government over the complete closure of the country's land borders.
NAIJ.com (naija.ng) -> Legit.ng upgrades to serve you better
Border closure: Nigerians now prefer eba to rice – traders lament - on Legit TV