Chairman, Senate Committee on Banking, Insurance and other Financial Institutions, Senator Uba Sani over the weekend commended the economic strategy employed by President Muhammadu Buhari’s led federal government amid COVID-19 economic crisis.
The lawmaker, who is representing Kaduna Central Senatorial zone in the 9th Assembly further commended the Governor of the Central Bank f Nigeria (CBN), Gowin Emefiele for helping the country cope with emerging economic concerns through strategic financial decision making as Nigeria, like most nations of the world, contends with the ravaging effects of the Coronavirus pandemic.
“No nation was prepared for the COVID-19 pandemic and even the so-called advanced countries of the world that we thought were infallible were totally humbled by the virus.
“As we speak, the United States of America seem bereft of ideas on how to contend with the pandemic and its aftermath. However, in Nigeria, we are lucky to have a President who is calm, level headed and continues to listen and take advice from experts. That, for me is the saving grace,” Senator Uba Sani said.
He spoke further that, the phased easing of the the lockdown across the country was a masterstroke by Mr President, “Mr President was worried that the lockdown were taking dangerous toll on our economy but at the same time, he was being careful not to endanger the lives of Nigeria just to save the economy, hence, the very delicate balancing that was achieved eventually with the phased ease of the series of lockdown.
“It is working, the economy is gradually rebounding and people are becoming more conscious of the virus and the need to abide by the safety protocols as spelt out by the Nigeria Centre for Disease Control (NCDC) and the World Health Organisation (WHO),” he said.
On Emefiele he said, Nigerians owe the CBN governor a debt of gratitude for the role he has been playing to help the nation stem the COVID- 19, extolling him for leading the Bankers Committee to form the Nigerian Private Sector Coalition Against COVID-19 (CACOVID).
When the initiative was formed in March amid uncertainty COVID -19 introduced to the World he said, the CBN Governor hinted that the Coalition through its committees were to raise funds, which would be needed to contain the crisis, provide the required data and logistics, and project management among others.
“I must confess that I am very impressed with the frontline and very proactive role the CBN Governor, Mr. Godwin Emefiele has been playing in Nigeria’s efforts to contain the COVID-19 pandemic.
“Facts before the Senate Committee on Banking, Insurance and other Financial Institutions, that I Chair, indicate that in the bid to cushion the effect of the COVID-19 pandemic on the Nigerian economy, the CBN has so far disbursed about N107.45 billion to beneficiaries from the N1.15 trillion Covid-19 Pandemic Intervention Funds.
“I am also aware that several beneficiaries have been paid some money under the CBN’s N50 billion Targeted Credit Facility for Households and SMEs. I must confess that I have total confidence in the ability of the CBN under Mr. Emefiele to carefully guide our economy back to relative sanity after the devastating effects of the COVID-19 pandemic,” the Senator enthused.