CBN Urges Businesses to Harness Intervention Initiatives for Economic Growth

The Central Bank of Nigeria (CBN) has renewed focus on sensitising Nigerians on its operational activities, policies and products guidelines for accessing intervention initiatives programmes for the development of the country’s economy.

It urged consumers, bank customers and business concerns, especially those within the micro, small and medium scale brackets to take advantage of the window of opportunities for their business financial stability for economic growth.

It noted that despite its numerous strides over time, there has been undermining challenges of low public awareness on its intervention initiatives for the realisation of its goals.

Mr. Godwin Emefiele, CBN Governor, stated these Thursday at the apex bank 2-day Fair simultaneously held on virtual platform in Sokoto and Kebbi states with the theme: “Promoting Financial Stability and Economic Development”.

Emefiele represented by the Acting Director, Communications Department, Mr. Osita Nwanisobi, said the essence of the fair was to further sensitise customers and the Nigeria public on how to access CBN various intervention and support programmes with a view to promoting and expanding financial stability and economic development which defines the theme of the fair.

ALSO READ: Ex-CBN Director Rejects IMF Projection Says Nigeria’s Economy has Potential to Grow up to 10% in 2021

According to the Director “CBN wants to smoothen and simplify its policies accessibility in order to impact, boost relations, transactions and business opportunities for customers which would ultimately strengthen the economy.

“We want Nigerians to take charge of the window of opportunities available to them through CBN ‘s intervention activities. Let them know how to access and benefit from the programmes which are meant for them”, he stressed.

Nwanisobi pointed out that the CBN governor has emphatically insisted that the interventions were a direct product meant to serve the relevant financial and business concerns of Nigerians who needed such support to move the economy.

 

He noted that small and medium scale farmers had been the focus of the apex bank, especially with reference to the Anchor borrower scheme.

“We have a guideline that stimulates and explained how to access all interventions through the bank Development and Finance Officer so that customers can leverage on them without bottle necks “, he pointed out.

Earlier, the apex bank Sokoto branch Controller, Yusuf Wali Baba, said the fair was aimed at deepening credit delivery policies to real sectors driving the economy to create employment, reduce poverty and create wealth for the general economic stability.