…As CBN bans importation of textile materials
Governor of Central Bank of Nigeria (CBN), Mr Godwin Emefiele, has debunked the rumour that he has been relieved of his job.
Responding to a question on his status during a meeting with textile stakeholders in Abujanon Tuesday, Emefiele said: “As you can see, I am here doing my work. My tenure expires in June; and we will continue with our work until then.
“CBN has been intervening in the economy since 1978 and whoever comes after me will continue from where we stopped.
“No right-thinking person will discontinue an intervention that is meant to create jobs and improve the economy,” he declared.
Meanwhile, the apex bank has added textile to the list of items ineligible for officially sourced forex. This brings to 42 items now on that list.
At a meeting with stakeholders in the cotton and textile value chain in his office, Emefiele promised tough times for smugglers of textile materials.
“Recalcitrant smugglers will be blacklisted from banking services”, he declared.
To also encourage the industry to grow and create jobs, Emefiele said an industrial hub would be created where electricity would be provided.