• Seeks $12bn non-oil exports, 95% financial inclusion by 2024
• To retain managed-float exchange rate
• Bankers back CBN’s plan for recapitalisation
Obinna Chima in Lagos and James Emejo in Abuja
Central Bank of Nigeria (CBN) Governor, Mr. Godwin Emefiele, yesterday unfolded the bank’s policy direction for the next five-year under his watch, targeting double-digit growth, single-digit inflation, $12 billion non-oil exports by 2023 and raising financial inclusion to 95 percent level by 2024.
He also pledged to retain managed-float exchange rate and announce a bank recapitalisation that will see banks jacking up their capital base above the N25 billion minimum level that one of his predecessors, Prof. Charles Soludo, introduced in 2004.
Emefiele’s policy thrust elicited swift reactions from stakeholders with the Chartered Institute of Bankers of Nigeria (CIBN) endorsing the move to recapitalise the…
