CBN out to stimulate economic growth – Emefiele

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Governor of the Central Bank of Nigeria, Godwin Emefiele, has said that the main objectives of the apex bank was to stimulate economic development for the benefit of Nigerians with the intention of doing business at all levels to have a better and more fulfilled live.

Speaking on Thursday in Kano State at a Two days sensitisation Program tagged “CBN FAIR” held at the Marhaba Event Centre in Kano, the Governor who was represented by a Deputy Director of CBN, Alhaji Aliyu Katuka, said the main objective of the two days programme was to sensitise and mobilise the populace on financial operations of the bank.

According to him, it is also about the bank’s position to create awareness about the CBN activities as it concerns economic development initiatives of the bank with a view to explaining to the public the opportunities available and how every citizen can take advantage of them.

He said that some of the initiatives of the CBN were based on monetary policy, modernisation of the payment system, developing financial programme, and financial literacy all designed to revamp, reposition and re engineer vital sectors of the economy.

Governor Emefiele further revealed that some of the initiatives included “agricultural Credit Guarantee Scheme, Fund (ACGSF), Micro Small and Medium Scale Enterprise (MSME) Micro Finance Policy, Commercial Agricultural Credit Scheme, (CACS), Electronic payment system ( alternative payment channels) Mobile Banking, Rights of consumers of financial services,” among others.

He said these good initiatives no doubt are quite capable of repositioning the economy if well understood and the opportunities are adequately tapped into.

The Governor said this fair was key in mobilising the low income but economically active people especially women, youths, enterprenuers, farmers and financial service providers to come together, to interact and create synergy, towards enhancing access to financial, increase productivity, generate employment, create wealth and engender sustainable growth.

In his brief remarks, a former Special Adviser to the Kano state Governor Dr. Alhaji Sagir Mohammed, who represented the Governor Ganduje at the occasion, commended the initiatives of the CBN in mobilising Nigerians to be acquinted with their rights and how to explore the numerous opportunities that abounds in the apex bank.

“He said the CBN’s hope of providing ninety five percent of Nigerians to be part of financial inclusion has manifested into practical reality.”dpa

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