CBN Sensitises Nigerians On Mobile Banking | Independent Newspapers Limited
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CBN Sensitises Nigerians On Mobile Banking

Posted: Sep 8, 2015 at 1:35 am   /   by   /   comments (0)

 As APC Urges DMO To Ignore Akwa Ibom’s Debt Restructuring Request

By Akinwunmi King,


In a bid to extend and encourage the use of mobile banking, especially among rural dwellers, the Central Bank of Nigeria (CBN) has organised a two-day Fair to sensitise rural dwellers in Katsina State on the importance of using mobile banking.

mobile-bankingThe CBN Branch Controller in Katsina State, Alhaji Hassan Adamu, while speaking at the Fair, explained that the fair provided opportunities for people to know the activities of the bank and their rights with the financial institutions.

Adamu said the goal of the Fair was to extend the message down to the grassroots people, who according to him, are important stakeholders in the implementation of the CBN initiatives.

He said that successful implementation of the initiative would assist to enhance economic growth and development by reducing high cost of banking services and boost financial literacy and inclusion.

He also announced that the apex bank had introduced some policies like Clean Note Policy, Financial Inclusion, Bank Verification Number and Consumer Protection Management, which are aimed at assisting the country to attain a balance of trade and payments and reduce unemployment as well as enhance the living condition of the citizens.

Also speaking at the Fair, which has its theme as “Protecting Financial Stability and Economic Development in Nigeria”, Director, Corporate Communications Department of the branch, Hajia Umma Dutse, said the fair gave people the opportunity to get easy access to credit facilities.

Meanwhile, in another development, the Akwa Ibom State chapter of the All Progressives Congress (APC) has urged the Central Bank of Nigeria (CBN) and the Debt Management Office (DMO), not to act on the Akwa Ibom State request for debt restructuring until the account of the state is properly audited.

In a recent statement by its Publicity Secretary, Ita Awak, expressed concern that after over three months in office, the State Governor, Udom Emmanuel, had not deem it fit to disclose the total debt profile and income he inherited from the immediate past governor, Godswill Akapbio.

The state APC also called on the Economic and Financial Crimes Commission (EFCC) and other relevant agencies to conduct a forensic and thorough audit of the state finances from May 29, 2007 to May 28 2015.

It also urged the EFCC and other relevant agencies to issue a certificate of clean financial health before the CBN can look into restructuring the state debt.

The party regretted that despite unprecedented revenue accruing to the state in the past eight years, the immediate past administration of the state left behind failed and abandoned projects.

APC listed some of the abandoned projects to include: the Enwang-Etebi Road, the Tropicana Entertainment Centre, the “commissioned” but uncompleted Specialist Hospital, the Pipe Jacket drainage in Uyo, the Hatchery at Uruan.

Other abandoned or failed projects, the party said, also include the permanent Airport Terminal, the Airport Taxiway and 2nd Runway, the abandoned Etinan-Eket project, amongst other projects initiated by the PDP government of Godswill Obot Akpabio.

The party, however, maintained that the over N3 trillion, which came into the state coffers during the last PDP administration in the state was about three times what the state received between September 27, 1987, when it was created, and May 28, 2007, when Akpabio took over the reins of power.