Members of the Central Bank of Nigeria Pensioners Welfare Association (CPWA) have commended President Muhammadu Buhari, for his magnanimity in re appointing the Central Bank Governor, Mr Godwin Emefiele, to serve for a second term.
In a release issued by the Chairman and General Secretary of the Association, Mr Bayo Ademola, and Mr Felix Obi , in Lagos, the pensioners said they the act depicts that the CBN Governor’s overall performance during his first tenure was satisfactory. The pensioners extolled Emefiele’s achievements on exchange rate stability as the rate has stabilised at N360 to a dollar in the parallel market for over two years, as well as formation and sustenance of appropriate monetary policy measures that led to a steady growth of foreign reserves from less than $30 billion in 2015 to about $50 billion presently.
CPWA also commended the active intervention of the CBN, under the leadership of Emefiele in promoting increased agricultural productivity, particularly rice production through the highly laudable Anchor Borrowers’ Programme (ABP), which has now resulted in a significantly enhanced rice output, thereby reducing the outflow of scarce foreign exchange that would have been required for large-scale importation of the commodity. “We have been praying for this to happen and are happy that with Emefiele’s re appointment, matters relating to our welfare that are awaiting his necessary action,will be looked into.
The CBN Pensioners Association was hopeful that the CBN governor will do better in his second term as he has promised to extend the CBN’s interventionist agenda to other sectors of the economy like the revival and enhancement of palm oil, cotton production in his second term of office.