From Ndubuisi CoalitionOrji, Abuja
A coalition of Ohanaeze, Arewa, Middle Belt and Niger Delta youth organisations has commended the Central Bank of Nigeria (CBN) on its new policy Diaspora remittances.
The coalition in a statement by its spokesman, Godwin Meliga and four others, on Sunday, said the policy has brought a halt to the depreciation of the naira in the parallel market.
The coalition, while lauding the CBN governor, Godwin Emefiele for the initiative, said there have been a rise in the value of the Naira since the apex bank announced the policy.
The youth groups added that they are confident that the CBN under the leadership of Emefiele is capable of moving the country out of the current recent in no distant time.
“The policy has boosted the economy and made it viable yet again. It has made prices of certain levels of good which are imported into the country cheaper hence having spiral effect on several other products and the economy generally.
“The Council therefore restates its conviction that the Godwin Emefiele led CBN is capable of drawing the country out of its latest recession, described as its worst recession in several decades, in record time having shown capacity effectiveness to do so,” it stated.