CBN urges Nigerians to embrace its policies to entrench macro-economic stability

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THE Central Bank of Nigeria (CBN) has urged Nigerians to embrace its policies and programmes geared toward entrenching micro and macro-economic stability.

Mr Aliyu Katuka, a Deputy Director in CBN, made the call in Dutse on Tuesday while speaking at the end of a two-day sensitisation fair.

Katuka said the main goal of the apex bank was to stimulate economic development for Nigerians to enable them to live a better life.

He explained that the sentisation fair was organised to create awareness about the apex bank’s activities as it concerned economic development initiatives.

The deputy director added that it was also to explain to the people opportunities available and how every citizen could take advantage of them.

According to him, the various initiatives of the CBN monetary policy, modernisation of the payment system, development financing programme and financial literacy are designed to revamp, reposition, and re-engineer vital sectors of the economy.

Katuka listed the initiatives to include the Agricultural Credit Guarantee Scheme Fund (ACGSF), Micro, Small and Medium Scale Enterprises (MSME), Micro Finance Policy, Commercial Agricultural Credit Scheme (CACS).

Others, he added, are electronic payment system, mobile banking, and right of consumers of financial services, financial inclusion, Biometric Verification Number (BVN) and pursuit of sound and stable financial system.

‘‘These good initiatives, no doubt, are quite capable of repositioning the economy if well understood and the opportunities are adequately tapped into.

‘‘This fair is, therefore, planned to mobilise the low income, but economically active people, especially women, youths, entrepreneurs, farmers and financial service providers to come together, interact and create synergy towards enhancing access to finance, increase productivity, generate employment, create wealth and engender sustainable growth.

‘‘It is therefore expected that at the end of this two-day event, the participants are in good position to evaluate and take basic financial decisions that can enrich their entrepreneurial skills,’’ Katuka said.

He gave assurance that the CBN remained a people-focused institution that was strictly devoted to building a resilient financial system that would serve the nation’s growth and development needs.

Farmers, entrepreneurs, students, were among those that participated in the fair, and were also allowed to ask questions and made comments.

-NAN

BE

– July 9, 2019 @ 19:10 GMT

 

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