Importers in the maritime sector on Friday commended the new Central Bank of Nigeria (CBN) Governor, Godwin Emefiele’s policies, saying that they would improve business.
Some of the shippers and importers in the maritime industry reacted to Emefiele’s vision to cut down interest rate, stabilise exchange rate and preserve the value of local currency.
Godwin EmefieleMr Jonathan Nicol, President, Shippers Association of Lagos State (SAL), said that government should endeavour to stop the black market exchange of foreign currency transaction.
Nicol said that the CBN should not give Bureau De Change the opportunity to dictate the exchange rate but that banks should be allowed to handle all foreign exchange business.
“It is not ethical for a country like Nigeria to have a group of people that will be loitering on the streets with dollars in their hands.
“Banks should be able to disburse foreign exchange based on the supply and demand,’’ he said.
The SAL president said that naira should not be higher than 60 dollars to one naira, adding that in the 1970s, naira was higher than the pound.
The Procurement Manager, Nigerite Ltd, Mr Jona Amata, said the CBN’s governors policy to reduce the interest rate and stabilise exchange rate would boost business operation for importers.
Amata said that reduction of the exchange rate would help to re-establish the business of manufacturers and importers who had not been doing well.
“If this policy is achieved, it will help to create jobs for people and enable the government to achieve its policy of reducing the rate of unemployment ,’’ he said.
A Lagos-based importer, Mr Kazeem Usman, described Emefiele’s policy as a good step in good direction.
Usman, an importer in motor truck parts, said the reduction in interest rate would enable more people, especially entrepreneurs to take loans from the banks and invest.
He said that this would add more value to enterprises in terms of income and expenditure.
Also, Mr Emmanuel Imoh, Manager, City Services Company, said the plan to give business people as low as N50, 000 without collateral would reduce the high rate of unemployment.
Imoh hailed all the plans mapped out by the CBN governor and urged him to implement the CBN’s supervisory role over the banking system.