CBN moves to develop economy, initiates intervention programmes

By Ado Hassan, Sokoto

The Central Bank of Nigeria(CBN) through its Sokoto state Branch Controller, Alhaji Dahiru Usman, says its has initiated strategic intervention programmes to drive the nation’s economic development for prosperity.

The programmes according to the  apex bank was aimed at further strengthening various agricultural, micro finance and small business entrepreneurial schemes  through its concerted efforts.

Usman made the disclosure in Sokoto while declaring open a 2 day CBN organised Fair with the theme: Promoting Financial Stability and Economic Development”.

According to him” is to create significant awareness for each of the initiatives in a more relevant and memorable manner among others primary stakeholders inorder to address the issues of poverty, provide information on fundamental economic aspects of our development.”

Usman however, maintained that the indices to drive the initiative would further create window wealth creation, poverty alleviation and employment opportunities so as to support and encourage all players in the process.

The bank Official explained that the move was stem in the agricultural, manufacturing ,micro, small and medium scale enterprises, power and energy as well as banking sectors.

Doing so, Usman said ” we have strategically embraced the evolution of initiatives in Agricultural Credit Guaranty, Commercial Agricultural Credit schemes including the Anchor Borrower program among others.

He noted the low level of public/user awareness which he described as a major challenge to the desired goal of the bank’s strategic drive.

“Thus, it is in consideration of the above that the management of the bank finds it expedient to organise this sensitization programme.”

Usman urged the participants to come up with issues that are agitating their minds, as its an opportunity to constructively engage the facilitators who are readily available for such interaction.

In his presentation Mr. Jonathan Laburta, Senior Manager Currency Operation CBN highlighted more on the Nigerian currency denominations in use that include Kobo and Naira which he said should not be subjected to any form of abuse.

” They are legal tender and should not be traded as commodities. The CBN is the authorised body to print and regulate their circulation viz-a- viz ensure economic balance against inflation.”

He said the public must avoid the selling of Naira” such constitutes an offence against the law and attracts severe penalty.”

In his presentation,  Mr. Orji Kenneth of the CBN Banking and Finance Department, urged the public to use E- banking system in carrying out their financial transactions

” The system is safer, reliable  and faster. It reduces the risk of robbery and other crime related threats associated with cash transactions”, he pointed out.

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