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Market Digest Nigeria

Economy

Emefiele reveals agenda for economy, to recapitalise banks

Emefiele

The Governor of the Central Bank of Nigeria, Mr Godwin Emefiele on Monday unveiled his economic blueprint for the country, promising to recapitalise banks within the next five years to make them contribute significantly to economic growth.

He said this during a media briefing held at the apex bank headquarters in Abuja. Emefiele said during his next five years as CBN governor, he would pursue an economic agenda that would make the economy grow by double digits through targeted programmes that would boost output.

The governor said he would work with Deposit Money Banks in the next five years to boost credit to the real sector as well as the creative and education sector. He said the apex bank will over the next five years increase its support to farmers in order to bring down the rate of inflation.

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