The challenges of Nigeria’s economy are checkered, stubborn and complicated but not insurmountable. Professor Doyin Salami noted that 'Nigeria has an economic challenge that is significant and potentially severe. The Federal and State Governments alone lack the firepower and would need huge private investments to move the needle of the economy.’’
The challenges of Nigeria’s economy are checkered, stubborn and complicated but not insurmountable. Professor Doyin Salami noted that “Nigeria has an economic challenge that is significant and potentially severe. The Federal and State Governments alone lack the firepower and would need huge private investments to move the needle of the economy.’’
But the bottom line is that CBN has been dynamic and systematic with its policies though it may not have been easy to fully achieve the target objectives because of inherent aberrations in the economy which have made it to be stubborn and resistant to guidance and discipline, and has turned out to be probably one of the most sabotaged economies.
Two former CBN Governors- Professor Charles Soludo and Sanusi Lamido Sanusi strengthened the capital base of banks for solidity, and eliminated corporate rascality respectively, for a stronger banking industry, while the present Governor, Godwin Emefiele reinforced the financial system stability by developing financial frameworks and tools for managing financial stability particularly macro-prudential and micro-prudential policies and crisis management conundrum.
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