By Chris Udochukwu
Abuja (Precise Post) – Civil Society Groups led by Coalition of Civil Society Groups has commended President Muhammadu Buhari-led federal government supported by Governor Emefiele-led management team of the Central Bank of Nigeria for the achievements recorded in the economic sector.
The group said the solidarity became necessary in view of the fact that this feat was realized despite the economic downturn occasioned by the unstable low price of crude oil in the International Market, advent of Covid-19 pandemic and the multifaceted insecurity challenges facing our country.
This was contained in an address signed by Abubakar Ibrahim, Secretary General; Femi Osabinu, PRO and Etuk Bassey Williams, President, read during a solidarity rally held on Wednesday at the Unity Fountain in Abuja in support of the government of President Muhammadu Buhari and Godwin Emefiele.
The statement reads in full:
Today we the members of All Civil Society Groups led by Coalition of Civil Society Groups gathered here in solidarity for the present leadership of the Country on their efforts towards ensuring that our economy continue to survive despite the economic downturn occasioned by the unstable low price of crude oil in the International Market, advent of Covid-19 pandemic and the multifaceted insecurity challenges facing our country.
The achievements by the Government under the leadership of President Buhari cannot be possible without the support of the able lieutenants appointed to head the Central Bank of Nigeria (CBN) under the able leadership of Mr. Godwin Emeficle who has made efforts to turn around the negative indices of the economy as a result of good policies.
We applaud the recorded achievements in the Micro, Small and Medium Enterprises (MSMEs), the small Farm holders. We also appreciate his effort towards assisting our industries to meet-up with international standard in the quality of goods produced for export.
Today, many Nigerians have benefited from wonderful policiàAes of the CBN such as the Youth Entrepreneurship Development Programme (YEDP), Accelerated Agricultural Development Scheme (AADS), the Agri-business/Small and Medium Enterprises Investment Scheme (AGSMEIS). These policies have impacted positively in the lives of many Nigerians. Jobs have been created and millions of Nigerians are happy and grateful.
The Anchor Borrowers Programme that has increased yield per hectare and food security in the country is a plus to the CBN. This policy among others is in support of the drive by the Government to diversify the economy and stimulate growth in the agriculture sector.
It is without doubt that the Effort of CBN in ensuring protection of Bank customers, effective supervision of Deposit Money Banks and Other Financial Institutions; and deepening of financial inclusion through an effective banking and payments system in recent times has yielded positive results
Governor Emeficle’s support for the Creative Industries through the Creative Industry Financing Initiative (CIFI), which is being implemented in collaboration with the Bankers’ Committee, is a huge boost in the Creative Industry.
We frown at the economic sabotage going on in the Forex market. We condemn a situation where the disparity between the official bank-exchange rates for dollar/naira will be too high, thereby creating inflation.
We applaud the sincere effort to salvage the naira, the CBN stop of sales of Forex to Bureau De Change (BDC) Operators who exploit and artificially inflate dollar/naira exchange. We applaud this move to discourage illicit financial flow, BDC racketeering and indiscriminate round tripping.
We hereby call on the Governor to suspend the activities of the BDC operators in totality and supply money to the commercial Banks,
We also demand that a monitoring committee that comprises of EFCC, CBN and NFIU be set up to cheek and arrest BDC operators who go to the Banks to buy off the dollar using fake application.
We also applaud the CBN introduction of e-naira, we are confident that this policy will stimulate economic activities that will result into job and wealth creation.
Based on the recorded achievements listed above, we thus call for more support to the leadership of the country and the leadership of the CBN.
Thank You for your attention.
Abubakar Ibrahim,
Secretary General
Femi Osabinu,
P.R.O
Etuk Bassey Williams, President.
