{"id":15877,"date":"2019-09-24T14:40:11","date_gmt":"2019-09-24T14:40:11","guid":{"rendered":"https:\/\/www.africa-press.com\/nigeria\/?p=15877"},"modified":"2019-09-24T14:40:11","modified_gmt":"2019-09-24T14:40:11","slug":"ex-cbn-official-warns-against-closure-of-nigerias-borders","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/nigeria\/all-news\/ex-cbn-official-warns-against-closure-of-nigerias-borders","title":{"rendered":"Ex-CBN official warns against closure of Nigeria\u2019s borders"},"content":{"rendered":"

A former Director of the Central Bank of Nigeria (CBN), Dr Titus Okunrounmu, has warned that the continued closure of the country\u2019s borders would exacerbate the stagnation of the economy.<\/p>\n

The Federal Government had\u00a0shut down the country\u2019s land and sea borders<\/a>\u00a0as a proactive measure to checkmate importation of arms and animations, smuggling and human trafficking.<\/p>\n

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.<\/p>\n

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.<\/p>\n

\u201cClosing the nation\u2019s borders is not the solution to our economic underdevelopment,\u201d he said.<\/p>\n

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.<\/p>\n

\u201cThe nation is missing a lot of revenues on a daily basis to the smugglers because of the closure of the borders, \u201d he said.<\/p>\n

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.<\/p>\n

<\/div>\n

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

<\/div>\n","protected":false},"excerpt":{"rendered":"

A former Director of the Central Bank of Nigeria (CBN), Dr Titus Okunrounmu, has warned that the continued closure of the country\u2019s borders would exacerbate the stagnation of the economy. The Federal Government had\u00a0shut down the country\u2019s land and sea borders\u00a0as a proactive measure to checkmate importation of arms and animations, smuggling and human trafficking. […]<\/p>\n","protected":false},"author":62,"featured_media":15879,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24,15],"tags":[503,176,386],"class_list":["post-15877","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-cbn","tag-nan","tag-ogun"],"yoast_head":"\nEx-CBN official warns against closure of Nigeria\u2019s borders - Nigeria<\/title>\n<meta name=\"description\" content=\"A former Director of the Central Bank of Nigeria (CBN), Dr Titus Okunrounmu, has warned that the continued closure of the country\u2019s borders\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/nigeria\/all-news\/ex-cbn-official-warns-against-closure-of-nigerias-borders\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ex-CBN official warns against closure of Nigeria\u2019s borders\" \/>\n<meta property=\"og:description\" content=\"A former Director of the Central Bank of Nigeria (CBN), Dr Titus Okunrounmu, has warned that the continued closure of the country\u2019s borders\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/nigeria\/all-news\/ex-cbn-official-warns-against-closure-of-nigerias-borders\" \/>\n<meta property=\"og:site_name\" content=\"Nigeria\" \/>\n<meta property=\"article:published_time\" content=\"2019-09-24T14:40:11+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/nigeria\/2019\/09\/CBN-Headquarters-Abuja.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"989\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"alico\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"alico\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/all-news\/ex-cbn-official-warns-against-closure-of-nigerias-borders#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/all-news\/ex-cbn-official-warns-against-closure-of-nigerias-borders\"},\"author\":{\"name\":\"alico\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/#\/schema\/person\/50afd2ef4f0e900bd0a176404a8484a7\"},\"headline\":\"Ex-CBN official warns against closure of Nigeria\u2019s borders\",\"datePublished\":\"2019-09-24T14:40:11+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/all-news\/ex-cbn-official-warns-against-closure-of-nigerias-borders\"},\"wordCount\":250,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/all-news\/ex-cbn-official-warns-against-closure-of-nigerias-borders#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/nigeria\/2019\/09\/CBN-Headquarters-Abuja.jpg\",\"keywords\":[\"CBN\",\"NAN\",\"Ogun\"],\"articleSection\":[\"all news\",\"Economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/nigeria\/all-news\/ex-cbn-official-warns-against-closure-of-nigerias-borders#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/nigeria\/all-news\/ex-cbn-official-warns-against-closure-of-nigerias-borders\",\"url\":\"https:\/\/www.africa-press.net\/nigeria\/all-news\/ex-cbn-official-warns-against-closure-of-nigerias-borders\",\"name\":\"Ex-CBN official warns against closure of Nigeria\u2019s borders - 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