Emefiele Pledges CBN Support For Companies Devoted To Job Creation

Godwin Emefiele, CBN Governor

Nigeria’s Central Bank Governor, Godwin Emefiele, on Tuesday, pledged the support of the Bank to companies devoted to job creation in the country.

Speaking on Tuesday at the launch of the Blue Band Factory in Agbara, Ogun State, Emefiele harped on the significant role of the private sector in ensuring the country’s economic growth through job creation.

The CBN Governor said the apex bank was committed to activities that will strengthen the country’s industrial base.

Emefiele equally said there were numerous potentials in Nigerian Youths that the private sector can tap into to boost the industrial sector.

The CBN Governor also commended the management of Unilever Nigeria Plc for heeding the Bank’s call to return to Nigeria and build a world class plant capable of producing in spite of the foreign challenge that necessitated the CBN to restrict access to some 41 items, including margarine, which could be produced in Nigeria.

Emefiele told the audience that included representatives of the British and Dutch envoys as well as bank chiefs that the policies of the Bank and its aggressive intervention in the interbank foreign exchange market management had ensured transparency in the foreign exchange market, coupled with an accretion to the foreign reserves that now stand at $38.2 billion.

The CBN Governor said, “With a population estimated at about 180 million people, Nigeria is a ready market for investors and is indeed ready and open for business.”

Mr. Emefiele, however, cautioned that, “We must plan to feed our growing population so it does not become a disadvantage.”

Meanwhile, the Executive Vice President of Unilever Ghana & Nigeria, Yaw Nsarkoh lauded the CBN for supporting the company to achieve its goal of setting up the plant in Agbara and boosting capacity in Africa.

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