Buhari, Gbajabiamila, Ugwuanyi, Sanwo-Olu congratulate Godwin Emefiele at 60

Godwin Emefiele turns 60

President Muhammadu Buhari today congratulated and wished Mr. Godwin Emefiele, Governor of the Central Bank of Nigeria (CBN), a happy 60th birthday.

Buhari thanked the economist and banker for his patriotic contribution to the country during a period of economic hardship.

The president expressed his hope that Emefiele’s efforts would pay off for all Nigerians.

In a congratulatory letter to Emefiele, which he personally signed, he stated, “It gives me great pleasure to rejoice with you on the occasion of your diamond jubilee.” Please accept my congratulations, as well as those of my family and Nigerians, on this auspicious occasion.

“As Governor of Nigeria’s apex bank, you have rendered selfless service to your country at a most challenging period of our economic development, and I salute your commitment, passion and doggedness. As you continue to build on these achievements, it is my hope that your efforts translate to more positive results on the nation’s economy for improved living standards we envisage for our people.

“While using this medium to pray Almighty God to bless you with many more years in good health and service to your fatherland, please accept my best wishes and personal regards.”

The Speaker of the House of Representatives, Femi Gbajabiamila, also congratulated Emefiele and praised his diligence and commitment to the country’s economic project. Gbajabiamila said in a statement issued by his Special Adviser on Media and Publicity, Lanre Lasisi, that Emefiele was a Nigerian whose track record of excellence was clear to all.

Similarly, Lagos State Governor Mr. Babajide Sanwo-Olu congratulated Emefiele, calling him a valuable asset to Nigeria.

In a statement issued by his Chief Press Secretary, Mr. Gboyega Akosile, Sanwo-Olu stated that the CBN governor’s contributions to the country’s economy and financial sector were a clear testament to his visionary leadership.

Sanwo-Olu stated, “On behalf of my adorable wife, Ibijoke, and the good people of Lagos State, I heartily congratulate the CBN Governor, Mr. Godwin Emefiele, on the occasion of his Diamond Jubilee.”

Given Emefiele’s remarkable track record in the financial world, the governor said reaching the age of 60 in grace was cause for celebration. He claimed that the CBN governor’s performance had earned him an enviable position as Governor of Nigeria’s central bank.

According to Sanwo-Olu, Emefiele has proven his worth as a good manager of human and capital resources in both the private and public sectors over the years.

The governor stated, “As CBN Governor, Emefiele has been a worthy partner in our administration’s quest to build a Greater Lagos for millions of Lagosians, by creatively working with us in some areas of intervention aimed at building institutions for sustainable economic growth and development of Lagos State.

“Mr. Emefiele’s intellectual input to the nation’s economy in this globally economic depressing period has helped in no small measure to stabilise the business environment, while restoring confidence in the ecosystem.

“As Mr. Godwin Emefiele celebrates his Diamond Jubilee, I wish him good health and more fruitful years. I pray that God will continue to preserve and grant him good health to enable him render more service to humanity and our dear nation.”

Emefiele has been at the forefront of Nigeria’s economic diversification effort, providing critical financial support to non-oil sector operators. Under his leadership, the CBN has launched massive development interventions in critical sectors of the economy, particularly agriculture, manufacturing, and SME (SMEs).

Emefiele’s interventions include the SME Credit Guarantee Scheme (SMECGS), the Micro, Small and Medium Enterprises Development Fund (MSMEDF), the Agri-business/Small and Medium Enterprises Investment Scheme (AGSMEIS), the Creative Industry Financing Initiative (CIFI), the Targeted Credit Facility (TCF), and the Nigeria Youth Investment Fund (NYIF).

At the end of 2020, the MSMEDF had disbursed about N83.9 billion to 216,704 beneficiaries, with a 9% interest rate. AGSMEIS is a joint project of the Bankers’ Committee and the Central Bank of Nigeria that aims to increase agribusiness and MSMEs’ access to inexpensive and long-term financing.

The measures have increased employment creation and agribusiness and MSMEs’ managerial capability.

So far, a total of N111.7 billion has been disbursed to 29,026 beneficiaries. Furthermore, a N50 billion Targeted Credit Facility was introduced in March 2020 as a stimulus package to cushion the effect of the COVID-19 pandemic on households and MSMEs across the country. The fund has been increased N400 billion.

A total of N111.7 billion has so far been distributed to 29,026 recipients. In March 2020, a N50 billion Targeted Credit Facility was established as a stimulus package to mitigate the impact of the COVID-19 pandemic on people and small businesses across the country. N400 billion was added to the fund.

Emefiele also earned his stripes as one of the heroes of the country’s efforts to contain COVID-19. The CBN under Emefiele’s leadership was proactive in mitigating the effects of the pandemic on the economy.

Immediately the first COVID-19 case was recorded in Lagos, the Emefiele-led CBN took decisive actions and unfolded a raft of measures to moderate the effect of the virus on households, businesses, and the economy.

Emefiele was also instrumental to the formation of the private-sector-led Coalition Against COVID-19 (CACOVID), which was able to mobilise billions of naira and has immensely supported the country’s COVID-19 fight by setting up healthcare facilities across the country and distributing palliatives to states. It also established a health sector grant to promote research in the development of vaccines, among other policy measures.

The health sector facility has provided loans to pharmaceutical companies to expand and open drug-manufacturing plants in the country, and it has helped hospitals and healthcare practitioners to expand and build health facilities.

Governor Ifeanyi Ugwuanyi of Enugu State wishes the Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, a happy 60th birthday.

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