Godwin Emefiele, governor of the
Central Bank of Nigeria (CBN), says Nigeria’s security problems will cease to
exist if the land borders are closed for two years.
Emefiele spoke on Friday at the
first convocation lecture of Edo University, Iyamho, Auchi, where he delivered
a lecture on “The role of monetary policy towards economic growth in Nigeria”.
Nigeria’s land borders have been
closed to trading activities since October to curb smuggling from neighbouring
countries.
The apex governor said the border
closure was capable of tackling all security challenges currently plaguing the
country.
He added that the apex bank would
promote policies that would encourage local production and consumption.
“I can tell you that if our
borders remain closed for two years, the issue of Boko Haram, kidnapping,
banditry and Yahoo-Yahoo will stop,” Emefiele said.
“CBN will promote this policy by
making sure that we produce what we consume and eat what we produce.
“We no longer want what they are
importing to our country because we can produce them and CBN will do everything
possible to promote domestic products.”
Emefiele had earlier said that
the borders would remain closed until neighbouring countries reach agreements
on mutual anti-smuggling policies and agree on existing ECOWAS protocol on
movement.
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