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CBN Governor Says Border Closure Will End Boko Haram, Kidnapping, Banditry, Yahoo-Yahoo

IgbereTV reports that Mr Godwin Emefiele, the Governor of the Central Bank of Nigeria (CBN), says if border closure is continued for the next two years, issue of insurgency, banditry and kidnapping will be totally eradicated.

Emefiele made this statement at the first Convocation Lecture of Edo University, Iyamho, Auchi on Friday.

When interviewed after his lecture entitled “The Role of Monetary Policy towards Economic Growth in Nigeria,” he said the border closure was capable of tackling all security challenges currently being experienced in the country.

He said that if the youth, who were in these vices were gainfully engaged in meaningful activities, the insecurity would reduce to the barest minimum.

He said, “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. CBN will promote this policy by making sure that we produce what we consume and eat what we produce.”

He maintained that the apex bank would not allow the country to be used as a dumping ground for smuggling goods.

Emefiele, however, decried the actions of some neighbouring countries which he said was not helping matters.

Emefiele explained that some neighbouring countries are hampering the development of the Nigerian economy. He said when Nigeria as a country increased import duty on rice to discourage importation, those neighbouring countries reduced their own duties to get rice importation to be smuggled to the country.

He said, “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 urged the youth and old to take agriculture serious as it will help in the economic development of the country.

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