By Gabriel Olawale

LAGOS—A Lagos based businessman, Otunba Adejare Rewane Adegbenro has commended the roles of the Central Bank of Nigeria, CBN, under its Governor, Mr. Godwin Emefiele in revamping the economy, saying the CBN has ensured strict implementation of President Muhammadu  Buhari administration’s economic policies that drive growth and sustainability in the country.

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Governor, Central Bank of Nigeria (CBN), Mr Godwin Emefiele

Adegbenro, who made the commendation in Lagos, said: “With the various interventions in the forex space to defend the Naira, the CBN and the governor, Emefiele have done well in my opinion. However, the CBN should have a more inclusive monetary policy implementation where all stakeholders are well consulted before implementation to avoid policy summersault as we have had in the case of sovereign guarantees giving higher yields than corporate guarantee.

“He has done a lot to bring more people from the informal into the formal sector, BVN was a great initiative but a lot more needs to be done to increase from about 15% to at least 40%, this will go a long way in helping banks develop decent retails banking sector that helps more people have access to loans.”