Overview

The document is an address by Godwin I. Emefiele, Governor of the Central Bank of Nigeria (CBN), at the 2018 Annual Bankers' Dinner held on 30 November 2018 at Continental Hotel, Victoria Island, Lagos. The speech focuses on 'Strengthening the Economic Recovery Process in Nigeria.' Emefiele begins by thanking the Chartered Institute of Bankers of Nigeria, particularly Dr. Uche Olowu (President and Chairman of the Governing Council) and Mr. Seye Awojobi, for organizing the event. He also congratulates Dr. Olowu on his election and acknowledges the immediate past President, Prof. Segun Ajibola, and outgoing Council members. Emefiele greets CBN colleagues, including Deputy Governors and senior management. He reflects on his address five years prior, noting that while the dinner is a time for relaxation, he must discuss key economic developments. The address covers Nigeria's economic recession in Q1 2016, recovery by Q2 2017, and the CBN's measures alongside fiscal authorities. Emefiele emphasizes his mandate since June 2014 to make the CBN more people-focused, supporting job creation and inclusive growth beyond inflation and exchange rate stability. He stresses the relevance of a people-focused central bank amid global headwinds and reiterates CBN's commitment to reducing import dependence, creating wealth, and implementing policies for job creation. The document implies ongoing economic challenges and policy directions.

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