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Ex-CBN official warns against closure of Nigeria’s borders, states consequences

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    President Bola Tinubu Moves To Greatly Transform Nigeria’s Energy Sector, As Special Adviser To The President On Energy, Olu Verheijen, Wraps Up Very Fruitful Engagements With Chevron, Total, Shell, 12 Other Major International And Independent Oil And Gas Companies Operating In Nigeria – FULL DETAILS

    President Bola Tinubu Moves To Greatly Transform Nigeria’s Energy Sector, As Special Adviser To The President On Energy, Olu Verheijen, Wraps Up Very Fruitful Engagements With Chevron, Total, Shell, 12 Other Major International And Independent Oil And Gas Companies Operating In Nigeria – FULL DETAILS

    Petrol Marketers Move For The Price Of Petrol To Urgently Increase From N598 – N617 Per Litre To A Whopping N890 – N900 Per Litre, Due To The Recent And Consistent Fall Of The Naira Against The United States Dollar And Surge In The Price Of Crude Oil In The International Market – MORE SHOCKING REVELATIONS

    Petrol Marketers Move For The Price Of Petrol To Urgently Increase From N598 – N617 Per Litre To A Whopping N890 – N900 Per Litre, Due To The Recent And Consistent Fall Of The Naira Against The United States Dollar And Surge In The Price Of Crude Oil In The International Market – MORE SHOCKING REVELATIONS

    My Ambition For Now Is Supporting Tinubu To Succeed – Yahaya Bello

    My Ambition For Now Is Supporting Tinubu To Succeed – Yahaya Bello

    Senior Advocate Of Nigeria Suggests That In Future Elections, “INEC Should No Longer Be A Respondent; INEC Should Be An Independent Party, Adds “I Believe That We Should Move The Onus Of Proof In Electoral Cases To INEC. That Singular Act Will Reduce Election Petitions By 50 Percent” – MAKES MORE SOLID ARGUMENTS

    Senior Advocate Of Nigeria Suggests That In Future Elections, “INEC Should No Longer Be A Respondent; INEC Should Be An Independent Party, Adds “I Believe That We Should Move The Onus Of Proof In Electoral Cases To INEC. That Singular Act Will Reduce Election Petitions By 50 Percent” – MAKES MORE SOLID ARGUMENTS

    Retired Justice Of The Supreme Court Begs 10th Senate President To Amend The 1999 Constitution, To Enhance The Functioning Of Courts, Says By Doing So, The Courts And The Judges Will Be “Freed From The Constraints That Impede Their Ability To Fulfil Their Mandate Of Upholding The Rule Of Law, Justice And Democracy”

    Retired Justice Of The Supreme Court Begs 10th Senate President To Amend The 1999 Constitution, To Enhance The Functioning Of Courts, Says By Doing So, The Courts And The Judges Will Be “Freed From The Constraints That Impede Their Ability To Fulfil Their Mandate Of Upholding The Rule Of Law, Justice And Democracy”

    BREAKING: President Bola Tinubu Boasts In New York, Tells Nasdaq Stock Market That “The Greatest Economy Is Nigeria”, Despite Failing To Show Seriousness About Tackling The Incessant Insecurity And Daily Kidnappings Across The Country, Adds “There Is An Immense Opportunity In Nigeria That You Can Invest Your Money Without Fear

    BREAKING: President Bola Tinubu Boasts In New York, Tells Nasdaq Stock Market That “The Greatest Economy Is Nigeria”, Despite Failing To Show Seriousness About Tackling The Incessant Insecurity And Daily Kidnappings Across The Country, Adds “There Is An Immense Opportunity In Nigeria That You Can Invest Your Money Without Fear

    Great Shock As Dangote Petroleum Refinery Gets Exposed For Currently Importing Crude Oil Into Nigeria For Refining, As The Nigerian National Petroleum Company Limited Says That Due To Its Commitment To Sell Crude Oil To Other Entities, It Cannot Provide Products For Dangote Refinery

    Great Shock As Dangote Petroleum Refinery Gets Exposed For Currently Importing Crude Oil Into Nigeria For Refining, As The Nigerian National Petroleum Company Limited Says That Due To Its Commitment To Sell Crude Oil To Other Entities, It Cannot Provide Products For Dangote Refinery

    All Eyes On Rabiu Musa Kwankwaso’s Alleged Romance With APC, As Election Petition Tribunal Sitting In Kano State Cancels Some Votes Of NNPP’s Governor Abba Yusuf, To Announce APC’s Nasiru Gawuna As The Authentic Winner Of The 2023 Kano State Governorship Election By 897,000 To 850,000 Votes

    All Eyes On Rabiu Musa Kwankwaso’s Alleged Romance With APC, As Election Petition Tribunal Sitting In Kano State Cancels Some Votes Of NNPP’s Governor Abba Yusuf, To Announce APC’s Nasiru Gawuna As The Authentic Winner Of The 2023 Kano State Governorship Election By 897,000 To 850,000 Votes

    Court Grants N5m Bail To 69 Suspected Gay Wedding Attendees In Delta State

    Court Grants N5m Bail To 69 Suspected Gay Wedding Attendees In Delta State

    SHOCKING!!! President Bola Tinubu’s APC Federal Government That Claims To Care For Poor Nigerians Describes NLC’s Demand For Increase In Minimum Wage As A “Wage Award” That Nigerian Workers Do Not Deserve, Makes No Effort In Fulfilling All Its ‘Audio’ Commitments To The NLC Over 4 Months – FULL DETAILS

    SHOCKING!!! President Bola Tinubu’s APC Federal Government That Claims To Care For Poor Nigerians Describes NLC’s Demand For Increase In Minimum Wage As A “Wage Award” That Nigerian Workers Do Not Deserve, Makes No Effort In Fulfilling All Its ‘Audio’ Commitments To The NLC Over 4 Months – FULL DETAILS

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Ex-CBN official warns against closure of Nigeria’s borders, states consequences

by peter
September 24, 2019
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A former Director of the Central Bank of Nigeria (CBN), Dr Titus Okunrounmu, has warned that the continued closure of the country’s borders would exacerbate the stagnation of the economy.

The Federal Government had shut down the country’s land and sea borders as a proactive measure to checkmate importation of arms and animations, smuggling and human trafficking.

Okunrounmu, who served as director in the department of Budgetary of the bank, told the News Agency of Nigeria (NAN) on Tuesday in Ota, Ogun State, that the closure would stifle economic growth of the country.

According to him, shutting down of borders will further complicate economic challenges as the nation is still importing a lot of goods into the country.

“Closing the nation’s borders is not the solution to our economic underdevelopment,” he said.

Okunrounmu explained that the economy will continue to be stagnant because the smugglers would find alternative means of bringing their goods into the country and warned that the trend would negatively affect revenue generation.

“The nation is missing a lot of revenues on a daily basis to the smugglers because of the closure of the borders, ” he said.

He urged the Federal Government to take steps to develop the economy by looking inwards to proffer solutions to the immediate problems affecting the economy.

Okunrounmu said that for such a policy to work effectively, the nation will have to be self-sustaining in the provision of domestic goods.

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