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CBN Urges Nigerians To Embrace Policy

Posted: May 9, 2016 at 7:36 pm   /   by   /   comments (0)

Clement Ekong, Yola
Nigerians have been called upon to key into policies and programmes of the Central Bank of Nigeria (CBN), which are geared towards entrenching both micro and macro-economic stability and stimulate economic development of the country.

Aliyu Katuka, CBN Assistant Director, made the call at the commencement of a two-day sensitization workshop, tagged “Central Bank of Nigeria Sensitization Fair”, at Lelewal Hotel, Yola in Adamawa State on Monday.
Aliyu Katuka maintained that it is pertinent for increased massive participation of Nigerians in economic activities and create synergy towards enhancing access to finance, increased productivity as well as generate employment.

The Assistant Director of CBN said the main objective of the sensitization workshop was to create awareness about the CBN activities as it concerns economic development so that the people could take advantage of them and develop their economic potential.

He noted that the various initiatives of the bank anchored on monetary policy, modernization of the payment system, development financing programmes and financial literacy were all geared towards revamping, repositioning and reengineering vital sectors of the economy.

Katuka noted that some of the initiatives of the CBN include Agricultural Credit Guarantee Scheme Fund (ACGSF), Micro Small and Medium Scale Enterprises (MSME), Micro Finance Policy, Commercial Agricultural Credit Scheme (CACS), cashless policy, electronic payment system (alternative payment channels), mobile banking, rights of consumers of financial services, financial inclusion, Biometric Verification Number (BVN) and pursuit of sound and stable financial system.

He assured Nigerians that CBN remains a people – focused institution that is strictly devoted to building a resilient financial system that can serve the growth and development needs of the Country.

The Branch Controller of CBN Yola, Mr Y A Lawan in his welcome address implore all participants to give attention to the various presentations and discussions so as to reap maximum benefit from them.

Mr Lawan noted that all” tiers of government have been grappling with revenue shortfall occasioned by the drop in crude oil prices in the international market, as the need for strong internally generated revenue base is more apt at this time”.

Governor Muhammadu Umaru Jibrilla represented by the state commissioner of finance, Mahmud Sali noted that in response to the economic challenges bedeviling the state, the state government will soon inject N1 billion into the economy through a micro credit scheme to be floated by the state government.

Sali noted that despite the economic crunch that led to severe drop in federal allocation, the state has managed to pay state workers their monthly salaries noting that the state government is working seriously to exploit the abundant opportunities to break-even financially.

In his submission, Ahmed Sajoh , Adamawa state commissioner of information and strategy, urged the people to have faith in CBN noting that the laudable policies will lead to the economic emancipation of all and sundry.