“Positive Reporting Will Make Nigeria Investors Delight”

Image result for The Governor, Central Bank of Nigeria (CBN), Mr. Godwin EmefieleYemisi Izuora/Abakaliki

The Governor, Central Bank of Nigeria (CBN), Mr. Godwin Emefiele has advised journalists to be guided by the quality and content of reports they publish as that is one of the critical considerations usually taken into account by the investing public.

In particular the governor sought the understanding of financial and business journalists to endeavor to bring out positive aspect of the Nigerian economy in their reports.

“Financial journalists should be conscious of the fact that foreign investors form their perception about the economy based on their reports and hence the need to be cautious of this” said Emefiele.

The CBN governor who made the passionate appeal in a remark presented on his behalf by the Director, Monetary Policy Department, Mr. Moses Tule at the 22nd edition of the Finance Correspondents and Business Editors Seminar,at Abakaliki, Ebonyi State, noted that efforts of the Central Bank transcend its core mandate of monetary and price stability, but involves developmental activities to stimulate growth.

According to him, The developmental initiatives become necessary given that ours is a developing economy with the inherent development challenges.

Emefiele said that was why the Bank devoted critical resources by way of intervention in the N220 billion Agriculture, Micro, small and Medium Enterprises (MSMEs) and in the area of infrastructure.

These interventions, he said included the Agricultural Credit Guarantee Scheme Fund (ACGSF), Commercial Agricultural Credit Scheme (CACS), among others noting that these interventions was not intended to crowd out financial institutions in credit delivery, but rather as incentives to propel lending at reasonable rates to the real sector.

Also in an opening remark at the occasion, the acting Director, Corporate Communications Department, Mr. Isaac Okorafor extoled the patriotism of the financial media in their reportage.

Earlier in her remarks, the Branch Controller, CBN Branch Asaba, welcomed participants to the occasion and urged them to feel free to explore the Eboyi State environ and their various tourist potentials and delicacies.
Dignitaries present at the occasion include the Ebonyi State Commissioner of Justice and Attorney General, Hon. Augustine Nwankwagu and other CBN executives,

Meanwhile, the Ebonyi State Government has extended invitation to a private Investor in a bid to resuscitate the State’s cement Company Niger Cem.

The Governor of Ebonyi State Engr. Dave Umahi disclosed this at the Opening Ceremony of the Finance Correspondents and Business Editors (FICAN) Seminar holding in Abakaliki, the Ebonyi State capital and sponsored by the Central Bank of Nigeria (CBN).

The Governor represented at the event by his Commissioner for Justice and Attorney-General of the State, Hon. Augustine Nwankwagu said Ebonyi State will collaborate with a private investor to ensure that Niger Cem comes back on stream.

Umahi said Niger Cem when fully operational will no doubt provide employment opportunities for its citizens and contribute to the economy to the economy of the State and the Country, adding that the State is blessed with over 29 mineral resource deposits which include Salt and Limestone.

With the emphasis on the diversification of the economy to non-oil sectors, the Governor called on investors to partner with Ebonyi to harness the rich mineral resources in the State.
He also said that the State is a proud beneficiary of the CBN Anchor Borrowers’ Programme.

He added that it is involved in various agricultural programmes as it is vigorously pursuing food sufficiency for its citizens through its ‘one man one hectare’ policy among several other efforts.

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