CBN's Emefiele Reveals Plan For Small Businesses Destroyed By Hoodlums

The governor of Central Bank of Nigeria (CBN), Godwin Emefiele, has revealed the plan of the private sectors for small businesses destroyed during the hoodlums' attack across Lagos and other part of Nigeria. The attack had occured following EndSARS protests across Nigeria, a movement against police brutality in Nigeria.

Emefiele said the private sectors who formed CACOVID, would draft up a blueprint that will lead to the support of businesses and households affected by the hoodlum attack. While several large corporation like TVC, Oriental, Shoprite, Spar were attacked, most affected businesses are SMEs.

These businesses will be at the focal point of CACOVID, a group consisting of Dangote Group, Access Bank, GTBank, and many other major companies controlled by Nigerian billionnaires. Part of the opportunities that will be provided will include job creation, as Emefiele stated that unemployment played a role in the attacks.

“Our youths have immense potential, energetic and if well-handled can catapult our nation to the forefront of leading nations in the world,” Emefiele said, adding that, “We must, therefore, seek to promote increasing policies that will equip our youths in the right skills that will support innovation, employment and wealth creation.

“It is in this light that key stakeholders in the Nigerian private sector came together under the auspices of CACOVID to brainstorm of the ways to prevent the effect of the recent unrest from eroding confidence in our economy.

“I am pleased to note that the CACOVID alliance will, over the next week, be unveiling a blueprint that will provide details of our planned support that positively affect households and businesses.

“This is in addition to measures that will create millions of jobs for our youths over the next five years. Many parts of the country were affected by the unrest but Lagos remains the worst hit.”