By Dayo Omoogun
The Governor, Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, has assured investors of the security of their investments in the country despite dwindling revenue from the sale of crude oil globally.
Speaking at the weekend in Abuja, Mr. Emefiele assured that investors interested in repatriating their funds from the country were guaranteed to get their money, notwithstanding the drop in the revenue from crude oil noting that the Bank had put in place policies to ensure an orderly exit for those that might be interested in doing so.
He, however, urged investors to be patient as such repatriations are processed, owing to the Bank’s policy of orderly exit of investments.
He recalled a similar situation that occurred in 2015 where in spite of decline in revenue, the CBN was able to settle all commitments in an orderly manner.
The Governor emphasized that the foreign exchange available would be strictly devoted to strategic importation or service obligations that are of high priority.
With the revenue drop from crude oil, the CBN Governor said Nigeria had no choice but to diversify its economic base. He said the time had come for Nigerians to produce what can be produced in the country and consume what is produced in the country.