Home BANKING & FINANCE CBN Governor Lists Many Benefits Of Border Closure, Including Reducing Kidnapping, ‘Yahoo...

CBN Governor Lists Many Benefits Of Border Closure, Including Reducing Kidnapping, ‘Yahoo Yahoo

CBN Governor, Godwin Emefiele

The Governor of the Central Bank of Nigeria, Godwin Emefiele, has listed many benefits Nigeria stands to gain with continued closure of the nation’s borders, including improvement in security.
Emefiele, who delivered a lecture at the Edo University, Iyamho in Edo State, explained that the closure would specifically help to reduce the level of Boko Haram insurgence, kidnapping and cybercrime, popularly known as ‘yahoo yahoo’.
“I can tell you that if we leave these borders closed for another two years, Boko Haram will reduce,” he said.
“I can tell you that Kidnapping and ‘Yahoo-Yahoo’ will reduce because they will now see that the only place that they can make money is in agriculture and not in kidnapping people.”
According to the CBN Governor, most of the arms being brought into the country were smuggled in through the borders, noting that ever since the borders were shut, the development has yielded good results.
According to him, one week after the borders were closed, the President of the Rice Farmers Association called to say that all the rice in their warehouses had been sold.
“The poultry people also called to say they have sold all their eggs.”
He stressed that the continuous closure of the borders would help to generate employment and reduce crime as Nigerians would have found diverse opportunities in legitimate businesses.