Vice-President Kashim Shettima has affirmed that the interventions made by the Central Bank of Nigeria (CBN) and the National Security Adviser (NSA) in the foreign exchange (FX) market have resulted in the desired outcomes. Shettima made these remarks on Thursday during the 2nd Chronicle Roundtable event in Abuja, organized by 21st Century Media Services, publishers of the 21st Century Chronicles, as part of its public service enlightenment series.
On February 24, the CBN and the Office of the National Security Adviser (ONSA) forged a partnership aimed at investigating and penalizing those engaged in illicit activities within the foreign exchange (FX) market. This decision was prompted by the persistent depreciation of the naira and its adverse effects on inflation and economic stability.
Speaking at the event, Vice-President Shettima highlighted the long-standing economic sabotage faced by Nigeria, which prompted Governor Yemi Cardoso of the CBN and National Security Adviser Nuhu Ribadu to take decisive action against individuals plotting to undermine the country's reforms. He stated that these interventions have yielded positive results.
Shettima urged Nigerians to exercise patience with the administration of President Bola Tinubu as it navigates through the economic challenges encountered upon assuming office. He expressed optimism about the administration's various initiatives in sectors such as oil and gas, creative arts, steel and solid minerals, housing, blue economy, and digital sectors, anticipating significant economic growth soon.
In his opening remarks, Shamsudeen Usman, Chairman of the Ministry of Finance Incorporated (MOFI), commended the content of the government's renewed hope agenda, considering it one of the most detailed and carefully crafted policy documents in the country's history. Usman stressed the importance of integrating the document into the country's medium and long-term development framework for policy consistency and the transformation of critical sectors.
Usman also praised the establishment of a central coordination delivery unit by the administration to monitor the performance of government programs, policies, and key interventions. He emphasized the critical role of monitoring key performance indicators in ensuring the success of government initiatives.
Mahmud Jega, CEO of 2nd Chronicle Newspaper, emphasized the importance of critically analyzing government policies and programs not only as an expectation from the media but also as a collective contribution to shaping the nation's development trajectory.
