Governor of the Central Bank of Nigeria (CBN) Godwin Emefiele, has commenced the second leg of his tenure, warning that the pace of the country’s Gross Domestic Product (GDP) growth has remained fragile and below the rate of her annual population growth at 2.7 percent.
He spoke after taking the oath of office to signal the commencement of his second tenure of five years.
He said in Abuja that more work still needed to be done in building a stronger economy for the benefit of all.
Emefiele promised to unfold a new roadmap for the bank and the economy, in the days ahead, after series of consultations with critical stakeholder groups.
He charged all the stakeholders to strengthen efforts at building a healthy and stable system in the best interest of Nigeria.
Emefiele reiterated the bank’s focus to play an active role in supporting job and wealth creation in the country.
“We must strengthen our efforts over the coming years to stimulate growth and job creation in critical sectors of the economy, which will help insulate our economy from shocks in the global economy.
“We must also work to build a healthy and stable financial system that will contribute to the growth of our economy, while preserving price stability,” he said.
He, therefore, pledged that the CBN would continue to collaborate with the fiscal authorities to strengthen growth and wealth creation in the country.
The statement noted that Emefiele was sworn in by the bank’s Secretary and Director, Corporate Secretariat Department, Mrs. Alice Karau.
The CBN governor was confirmed for re-appointment by the Nigerian Senate on May 16, 2019.