JUST IN: CBN To Recapitalize Banks

The Governor of the Central Bank of Nigeria, Mr Godwin Emefiele has unveiled his economic roadmap for the country, promising to recapitalize banks within the next five years to make them contribute significantly to economic growth.

He said this at a news conference on Monday held at the apex bank headquarters in Abuja.

 Mr Godwin Emefiele said his next five years as CBN governor, he would pursue an economic agenda that would make the economy grow by double digits through focus program that would boost output.

He promised to work with Deposit Money Banks in the next five years to boost credit to the real sector as well as the creative and education sector.

Emefiele said the apex bank will over the next five years increase its support to farmers in order to bring down the rate of inflation.