Governor of Nigeria’s Central Bank, Godwin Emefiele has alerted the country to get ready for another global economic crisis. He warned that the pending crisis will adversely affect economies across the globe.

The CBN Chief gave this warning while delivering a lecture themed: “Beyond the Global Financial Crisis: Monetary Policy under Global Uncertainty”, at the University of Benin (UNIBEN), Benin, Edo State.

He added that in the last year the country made progress but reiterated that efforts must be put in place to reduce the unemployment rate in the country.

In his words, “From some of my concluding remarks, you may have observed, whether you like it or not, that there is global uncertainty, which, most certainly, will lead to another crisis.”

“The question could be, how are we, as Nigerians, particularly our leaders, I am talking of monetary and fiscal policy authorities; how are we preparing our country for the next crisis?”

He gave more enlightenment on the previous recession which led to about 11.37 per cent drop from 18.72 per cent in 2017.

On the nation’s foreign reserve, he buttressed that that the foreign reserve was moving up but still there was the need to address unemployment issues and charged monetary policy makers to prepare the country.

He affirmed that efforts were being made by the apex bank to stabilize the nation’s economy with the introduction of the investors and exporter’s window which has helped in supporting the external reserves.

On foreign exchange, he made it known that there had been an improvement on the availability of foreign exchange, with stability of exchange rate of an average of N360/$ for 24 months and an appreciation of N360/$ from N525/$ in February 2017.

He encouraged stakeholders to come out with ways on how to improve the nation’s wealth rather than thinking of how to feed from it.