CBN urges NigeriansT Embrace Its Financial Initiatives For Inclusive Growth

CBN urges NigeriansT Embrace Its Financial Initiatives For Inclusive GrowthThe Central Bank of Nigeria (CBN), last week called on Nigerians to embrace the new financial initiatives of the bank designed to revamp vital sectors of the economy.

The CBN Director of Corporate Communications, Mallam Ibrahim Mu’azu made the call at the bank’s two-day sensitisation fair in Kaduna.

Mu’azu listed some of the initiatives as including: Agricultural Credit Guarantee Scheme; Commercial Agricultural Credit Scheme; Micro, Small and Medium-Scale Enterprises and Micro-Finance Policy.

Some others, he said, were the cash-less policy, electronic payment system and mobile banking.

“These lofty initiatives are designed to ensure sound and stable financial system, if understood. The opportunities also, if adequately tapped, could reposition the nation’s economy,” he said.

The CBN director explained that the fair was meant to create the needed awareness for the Apex Bank’s range of economic development initiatives and programmes.

According to him, the step is to open up opportunities for all Nigerians and educate them on how best to leverage on them.

“We are mobilising all Nigerians, particularly the low income but economically active women, youths, entrepreneurs, farmers and financial service providers. We are bringing them together to interact and create a synergy towards enhancing access to finance, increasing productivity, generating employment, creating wealth and engendering sustainable growth.

“At the end of the day, our goal is to see that participants are in good stead to evaluate and take basic informed financial decisions that can enrich their lives,’’ Mu’azu said.

He, however, cautioned members of the public to be mindful of the activities of illicit finance houses, popularly known as wonder banks.

The CBN director stressed that this was necessary, so that people would not lose their hard-earned money in pursuit of ‘mouth-watering’ facetious returns on investment.

He reminded the banking public of the ongoing registration for Bank Verification Number (BVN), urging those that had yet to register to do so before the exercise closed on October 31, 2015.

Earlier, the Kaduna Branch Controller, Alhaji Mohammed Gusau, said CBN would not relent in its efforts towards promoting financial stability and economic development.

Gusau advised the participants to utilise all available services and opportunities provided by the CBN to empower Nigerians and enhance national growth and development.

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