CBN to Recapitalise Banks for Economic Growth

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The Governor of the Central Bank of Nigeria, Mr Godwin Emefiele, on Monday unveiled his economic blueprint for the country, promising to recapitalise banks within the next five years to make them contribute significantly to economic growth.

He said this during a media briefing held at the apex bank headquarters in Abuja.

Emefiele said during his next five years as CBN governor, he would pursue an economic agenda that would make the economy grow by double digits through targeted programmes that would boost output.

The governor said he would work with Deposit Money Banks in the next five years to boost credit to the real sector as well as the creative and education sector.

He said the apex bank will over the next five years increase its support to farmers in order to bring down the rate of inflation.

In the meantime, the Central Bank Governor also expressed the readiness of the apex bank to create 10 million jobs in the next five years through investment support in agriculture and Manufacturing sector, in line with President Muhammadu Buhari’s agenda of diversifying the Nigerian economy.

Samson Oyedeyi