VERY SOON RECESSION WILL BE A THING OF THE PAST- CBN GOV.

By: Kayode Oluwa. (Snr Correspondent ,LHB)

The amiable governor of  Nigeria's apex bank , Mr. Godwin Emefiele,  recently  said that with the  country should be out of recession by the third quarter of this year. in his word "the current efforts by the Federal Government to revive the country’s economy is a step in the right direction ,
he further stated that  the Central Bank of Nigeria would continue with its intervention in the foreign exchange market, adding that efforts by the apex bank so far  had been yielding positive results.

He added that the country had started to see a downward trend in the prices of commodities, indicating a reduction in the rate of inflation. “We are very much optimistic that by the end of the second quarter, or latest the third quarter, we should be out of recession that we are in right now,”

Mr Emefiele stated these while briefing journalists after a closed-door meeting with the leadership of the Senate in Abuja on Tuesday , he revealed that discussions were held between the apex bank and the legislature on the current state of the economy.

The meeting which was at the instance of the Senate President, Bukola Saraki had in attendance Chairman, Senate Committee on Banking, Insurance and Other Financial Institutions, Rafiu Ibrahim.

Photo:Godwin Emefiele. By:CBN