CBN assures of strong financial system

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CBN Governor Godwin Emefiele on stong financial system
CBN Governor Godwin Emefiele on stong financial system

By Bashir Rabe Mani

The Central Bank of Nigeria ( CBN) has restated its commitment to building a resilient financial system in the country.

The News Agency of Nigeria ( NAN) reports that the bank restated this commitment in Sokoto on Thursday at the opening of a two-day Sensitisation fair.

NAN also reports that the fair has as its theme:” Promoting Financial Stability and Economic Development.”

The bank’s Finance Department Director and Team Leader, Mr Aliyu Katuka, said:” The bank assures that it remains a people-focused institution.”

Katuka further said that the fair attached great importance and commitment to the nationwide sensitisation programme.

According to him, the main objective of the fair was to create awareness about the CBN’s activities.

These activities, he noted, were as they concerned economic development initiatives, with a view of explaining the opportunities available and how every citizen could take advantage of them.

Katuka said “The various initiatives of the CBN are based on monetary policy, modernisation of the payment system and development financing programme and financial literacy.

” They are designed to revamp, reposition and re-engineer vital sectors of the economy.”

The bank’s Branch Controller in Sokoto, Mr Mohammed Idris said the event was aimed at sensitising the people of the state to the myriad of interventionist programmes of the bank.

Idris enumerated them to include agriculutral credit scheme fund, micro, small and medium scale enterprises, micro finance policy and commercial agricultural credit scheme.

Others, Idris explained, included cashless policy, electronic payment system, mobile banking, rights of consumers and financial inclusion.

He added:” These initiatives are quite capable of repositioning the economy, if well understood and the opportunities are adequately tapped into.

” The fair is therefore planned to mobilise the low income, but economically active people.

” They are especially women, youths, entrepreneurs, farmers and financial service providers.

” This is for them to come together, interact and create synergy towards enhancing access to finance.

” This will also increase productivity, generate employment, create wealth and engender sustainable growth.” (Edited by Idris Abdulrahman)

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