By Samantha Fox
Washington —- Nigeria’s Central Bank Governor Godwin Emefiele, who is credited with the phenomenal growth of the Nigerian economy within the last two years, has been awarded the Forbes 2017 Best of Africa Innovative Banking Award.
The event was hosted by Per Second News at the prestigeous Buchanan Ball Room inside the Willard Intercontinental Hotel, Washington, DC.
Mr Mark Furlong, President of Forbes Custom Solutions Media and co-founder of Forbes Afrique presented the award to the CBN governor.
“We honour him for his giant strides in corporate governance, vigorous pursuit of financial system stability and development financing on his firm believe that a central bank cannot idly sit by and watch threats stare the economy in the face, said Furlong.
“He has been resolute in dealing with the effects of commodity price volatilities, the United States easing programmes, the tensed expectations of 2015 general election in the country and the ongoing Brexit talks of the United Kingdom.
“He has backed up his quest of assisting in job creation by his Anchor Borrowers Programme, which has largely been responsible for rice production in the country and the welfare of the citizens. This is incredible and we at Forbes, are proud of him,” said Furlong who is a co-founder of Forbes Afrique.
The banking sector reforms embarked upon by the Central Bank of Nigeria (CBN) has brought about stability in the foreign exchange market, investors and financial leaders at the World Bank, IMF 2017 annual meeting have said.
The event was attended by some of the most pioneering and inspiring investors, financial and business leaders across the globe.
As a result of the various pro-real sector measures the CBN under the leadership of Mr Emefiele put in the forex market as well as some of its special borrowing windows, the manufacturing sector witnessed expansion throughout the second and third quarter of 2017 as Purchasing Managers Index (PMI) trended above 50.0 points.
“We see that things are turning around now, and we just want to let you know that those efforts are noted by the business community. We also are happy to see the work that is being done on the Ease of Doing Business in Nigeria, and we believe they are going to pay off, said Florie Liser, President CCA.
“Our members welcome it as an opportunity to see how they can trade more with Nigeria, and invest more in Nigeria. We note that you have a number of agricultural related businesses. We noticed that there is large support for agricultural development in Nigeria at this stage.
“So, we just want you to know that there are companies that are ready to partner and bring new technologies and platforms in Nigeria, to help you meet the goals that you and the president, and others have, to meet your goals for agriculture in the country.
“So, on behalf of the CCA, we welcome the opportunity to continue to partner with Nigeria and to see how we can support the economic growth plan that you have set.”
“We are delighted we put forex restriction on 41 items. We were castigated and I was reading in the Economist magazine that what we did was to just move around the home and pick items including toothpicks. I think it is important to know what we are doing, said an elated Emefiele.
“Today, companies that require starch and glucose for their pharmaceuticals and formulations patronise Nigerians. This has created jobs for us. That is the spirit of Nigerians. This is part of the reasons the President said we needed to patronise Made-in-Nigeria, and I am happy that we are doing this.
“Nigerians are hospitable and good people and we make bold to say Nigeria is good for business. The returns anywhere are not as high as you have in Nigeria. We invite you and that for me, is the message we have here today. Come to Nigeria, Nigerians will receive you,” he said.