…Emefiele begs bandits to accept Anchor Borrowers’ programme
The Central Bank of Nigeria, (CBN), has officially made the NAFEX Investor & Exporter forex window rate of N410.25 as its official exchange rate to the dollar.
It confirmed this new official rate on its website on Monday night, after it had removed N379/$ earlier in May.
Recall that a few weeks earlier, the naira officially depreciated to N410/$, quoting the Central Bank Governor, Godwin Emefiele.
Emefiele had said that the drop in crude oil earnings and the associated reduction in foreign portfolio inflows significantly affected the supply of foreign exchange into Nigeria.
Also, the CBN’s Monetary Policy Committee, (MPC), voted unanimously to retain the Monetary Policy Rate (MPR) at 11.5%. This was disclosed by the apex bank’s governor, Godwin Emefiele, at the end of a two-day Monetary Policy Committee MPC) meeting yesterday.
In a related development, the CBN governor has appealed to bandits to drop their arms and key into the bank’s Anchor Borrowers’ Programme (ABP).
He made the appeal while responding to posers at the end of the MPC meeting.
The ABP is the CBN’s intervention programme for farmers aimed at boosting food production in the country.
Recall that in March 2021, the apex bank said 3.8 million farmers had benefited from the programme in five years and N554.61 billion had been disbursed to the beneficiaries.
According to Emefiele, there is interconnectivity between security and the economy.
