Brexit Will Not Affect Nigeria Negatively – Emefiele

Governor of the Central Bank of Nigeria, Godwin Emefiele has said the planned exit of Britain from the European Union (Brexit) will not adversely affect Nigeria’s economy.

Emefiele said the United Kingdom is not one of Nigeria’s major partners.

The head of Nigeria’s apex bank was speaking at the conclusion of the World Bank/ International Monetary Fund (IMF) Spring Meetings.

“Let me say that the Brexit thing is about immigration and also about trade opportunities,” he said.

“On trade, I would say that though Britain and Nigeria have a trade relationship but not as strong as what we have with China and the United States.

CBNGovernor, Godwin-Emefiele

“For instance, China is Nigeria’s trading partner followed by the United States. And I had imagine that Britain comes quite low on the scale.

“So if you look at that, you would find that, in my view, there is not going to be any adverse consequences on Nigeria but we are reviewing it to see the implication, which I would expect would naturally be positive.”

Britain had planned to leave the EU on the 29th of March but that was shelled as leaders of the Union heeded to Prime Minister, Theresa May’s calls for an extension after heavy local tussle with members of the British Parliament.

A new date, October 31st has been set for Brexit.



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