Home BANKING & FINANCE CBN Vows To Correct Mistakes That Led To Recession, At Imo Seminar

CBN Vows To Correct Mistakes That Led To Recession, At Imo Seminar

Isaac Okorafor, CBN Spokesman

The Central Bank of Nigeria (CBN), has made it clear that not only the closure of the nation’s borders but will take any other measures to correct the mistakes that led to last year’s recession.
Speaking today, December 3 at a two-day seminar organised by the CBN for Finance Correspondents and business editors in Owerri, the capital of Imo State, the apex bank Director of Corporate Communications, Isaac Okorafor blamed Nigerians of forgetting so soon, factor that led to the near collapse of the the economy in the recent past.
He said that the CBN will not sit down and watch the same mistakes that created a situation of confusion in the economy, adding that there is no way the bank would allow foreign goods to come and drive away local goods.

“Our economy cannot grow if we allow all manner of products to be brought from other countries nearby and far to flood our markets. The CBN will continue to drive policies, whatever it takes to grow the economy.”
Okorafor, who argued that borders are not closed but “protected” stressed that Nigeria had no apology for the action, even as the Owerri branch Controller of CBN in Imo State, Mrs. Georgina Nwankwo appealed to the media to improve on the reportage of the nation’s economy.
She commended CBN for creating a platform for the continued capacity development of the media practitioners to be able to professionally report the economic activities.
The seminar which is being attended by the economic media practitioners from across the country, has as it’s theme: “Galvanizing Development Finance And Monetary Policy For Growth” and has as resource persons the CBN top managers as well as foremost labour leader, Malam Issa Aremu.