Recession: CBN Says Economy now on Path of Recovery and Growth

CBN

Central bank of Nigeria (CBN) governor, Godwin Emefiele, has assured Nigerians that the economic recession will start ending from the October, saying the worst of the recession is over.

Emefiele addressing a news conference in Lagos, said the worst of the economic recession is over, and the economy is now on the path of recovery and growth.

For instance, that apex bank governor said Nigeria had recorded $1 Billion capital inflow from foreign investors in the past three months following the liberalization of the foreign exchange market.

Emefiele who said the economy requires urgent injection of fresh funds suggested the sale of some of Nigeria’s joint venture with oil companies and the proceeds used to beef up the external reserves and infrastructure to reflate the economy.

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