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Border Closure: CBN says it’s for Nigeria’s Economical benefit

Border Closure: CBN says it’s for Nigeria’s Economical benefit

Doris Ukaonu
Mr Godwin Emefiele

The Central Bank of Nigeria has pleaded with the members of Rice Millers Association of Nigeria and other stakeholders involved in the sale of rice not to inflated their prices due to border closure.

The plea which was made available to journalists today (October 14), was contained in a statement appended by the CBN governor, Mr Godwin Emefiele.

The governor also appealed to them not to cache rice in order to increase the price in the long run as such acts were unpatriotic. 

According to Emiefiele, the borders were closed to facilitate the nation’s economy and endeavour that Nigeria is able to cater for itself in the rice value chain.  

He noted that imported rice was chemical-induced and that will only deteriorate the health of Nigerian citizens adding that the closure of the borders was for the wellbeing of Nigerians.

Having called on rice millers to support government’s effort in the rice value chain sector, Emiefiele said it was imperative for rice production to be increased in Nigeria as it will discourage hoarding of rice.

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He assured that the CBN under his leadership would support rice millers to stem off smuggling in the country and grow the rice sector for food self–sufficiency.

The governor of the apex bank, however, called on Nigerians to support the government action on the closure of the border, adding that it is for the good of the economy and also citizens.


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