CBN governor forewarn Nigerians to prepare for the next global economic crisis

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Godwin Emefiele

Godwin Emefiele, Governor of the Central Bank of Nigeria, has admonished Nigerians to prepare for the next global economic crisis.

Emefile said this while giving a lecture titled: “Beyond the Global Financial Crisis: Monetary Policy Under Global Uncertainty,” at the University of Benin, Benin, Edo State on Wednesday, May 22nd.

He further said the country has made progress in strengthening the economy, and efforts must be made to cushion the NIgerian economy against the impending global economic crisis.

According to him, “From some of my concluding remarks, you may have observed whether you like it or not, there is global uncertainty that will, unfortunately, most certainly lead to another crisis. The question could be, how we as Nigerians, particularly our leaders, i am talking of monetary and fiscal policy authorities, how are we preparing our country for the next crisis?

We have luckily exited recession; we have seen recession pending downward to about 18.72% in the 2017 to about 11.37% today. We have seen the reserve moving up but unfortunately we still have issues and those issues border on the unemployment rate and those issues border on how we prepare our country”.