The Governor of the Central Bank of Nigeria, Godwin Emefiele says the foreign reserve of Nigeria has risen to $47.93 billion, stressing the need for more savings.
Emefiele noted that Nigeria would have cushioned the effect of recession if had saved adequately. “There is need to save for the raining day and also continue to grow the foreign reserves.
“If we had enough reserves, we wouldn’t have suffered the recession shocks,” he said at a press briefing at the end of the 2018 International Monetary Fund and World Bank Spring Meeting in Washington DC, United States.
He assured that concerted efforts were ongoing to realise the 80 per cent target for financial inclusion by 2020.
Emefiele assured Nigerians that the country was on a positive growth outlook, noting that, the growth would be sustained.
6/ At the Briefing @cenbank Governor Godwin Emefiele disclosed that Nigeria’s foreign reserves have now risen to US$47.93 billion.
— Kemi Adeosun (@HMKemiAdeosun) April 22, 2018