Godwin Emefiele, governor of the Central Bank of Nigeria (CBN), says Nigeria’s security problems will cease to exist if the land borders are closed for two years.
Emefiele spoke on Friday at the first convocation lecture of Edo University, Iyamho, Auchi, where he delivered a lecture on “The role of monetary policy towards economic growth in Nigeria”.
Nigeria’s land borders have been closed to trading activities since October to curb smuggling from neighbouring countries.
The apex governor said the border closure was capable of tackling all security challenges currently plaguing the country.
He added that the apex bank would promote policies that would encourage local production and consumption.
“I can tell you that if our borders remain closed for two years, the issue of Boko Haram, kidnapping, banditry and Yahoo-Yahoo will stop,” Emefiele said.
“CBN will promote this policy by making sure that we produce what we consume and eat what we produce.
“We no longer want what they are importing to our country because we can produce them and CBN will do everything possible to promote domestic products.”
Emefiele had earlier said that the borders would remain closed until neighbouring countries reach agreements on mutual anti-smuggling policies and agree on existing ECOWAS protocol on movement.