The Central Banker of Nigeria Governor, Mr Godwin Emefiele, has insisted that the closure of the nation’s borders will curb Yahoo Yahoo activities and other vices among the youths in the country.
While delivering a lecture on Friday at the Edo University, Iyamho in Edo State, he explained that it would specifically help to reduce the level of Boko Haram insurgence, kidnapping and cybercrime popularly known as ‘yahoo yahoo’.
“I can tell you that if we leave these borders closed for another two years, Boko Haram will reduce,” he said.
“I can tell you that Kidnapping and ‘Yahoo-Yahoo’ will reduce because they will now see that the only place that they can make money is in agriculture and not in kidnapping people”.
The governor explained that instead of some neighbouring countries to develop policies to grow their own economies rather they engaged in things that undermined the Nigerian economy.
He said when Nigeria as a country increased import duty on rice to discourage importation, those neighbouring countries reduced their own duties to get rice importation to be smuggled to the country.
According to the CBN Governor, most of the arms being brought into the country were smuggled in through the borders.
But ever since the borders were shut, the development has yielded good results.
According to him, one week after the borders were closed, the President of the Rice Farmers Association called to say that all the rice in their warehouses had been sold.