CBN Organises Fair For Business Operators, Banks, Others In Rivers

The Central Bank of Nigeria (CBN), on Friday, organised an enlightenment fair for business operators, commercial banks and other groups in Rivers State.

Others groups that attended the enlightenment fair were farmers and cooperative societies as well as members of the National Youth Service Corps (NYSC) and workers from various state and federal government establishments in the State.

Speaking during the event, Deputy Director, Corporate Communication, CBN, Sam Okagbue, said the enlightenment fair was aimed at educating and enlightening the participants on consumer protection, payment currency operations, payment management systems, development finance and e-Naira transactions.

Okagbue further said the enlightenment fair was to educate the participants on their various business activities that affect the economy.

He said that in the past 15 years, Nigeria has survived several challenges such as the economic recession, COVID-19 pandemic, oil theft, insecurity and Nigerians’ attitude towards foreign goods, saying that the challenges have negative impact on the nation’s gross domestic product (GDP).

The CBN Deputy Director berated some Nigerians for their urge for foreign goods, which he said leads to rise in foreign exchange rates.

He said: “CBN is about the economy and the economy is about the people. We are here to interact with you about economy as to be conscious of what you are doing that impacts on the economy.

“In the last 15 years we have passed through many problems such as economic recession, COVID-19 which have impacted on the economy.

“We are battling with insecurity, oil theft and the urge for foreign goods which affects the nation’s Gross Domestic Product, GDP. We consumed foreign goods and everything we consume are foreign base and all this affects the foreign exchange rates.

“Our attitude to foreign goods is affecting our economy. This Enlightenment Fair will educate you on consumer protection, currency operations, payment management system, development finance and eNaira.”

In his speech, CBN Port Harcourt Branch Controller, Maxwell Okafor, said the fair was aimed at intimating the participants on the activities of CBN and what is required of them to secure their businesses and operate a free market economy.