The Central Bank of Nigeria (CBN) has unveiled its initiative to boost financial inclusion, reiterating its commitment to fostering productivity and maintaining monetary and price stability in the country.
Central Bank Governor, Dr. Olayemi Michael Cardoso, made the disclosure at the CBN Fair unveiled yesterday in Calabar, the capital of Cross River State.
Speaking on the theme “Driving Alternative Payment Channels as Tools for Financial Inclusion, Growth and Accelerated Economic Development.” Cordoso stated that with financial inclusion, the economy of Nigeria will be in a proper position to function at full capacity.
Representing the CBN governor, assistant director Corporate Communications, Mr Uche Tobias, stated that the bank has introduced several initiatives to strengthen the financial system, including exchange rate unification, bank re-capitalisation, and the launch of a non-resident BVN to connect Nigerians abroad with home banking facilities.
He stated that the CBN Fair will provide a platform for the bank to interact with the public on its policies and initiatives aimed at promoting sustainable economic growth and development.
The event featured presentations on various CBN operations, including recent innovations in the Nigerian payments system, microfinance sub-sector activities, and developments in the foreign exchange market.
The CBN also used the opportunity to sensitise the public on respecting and keeping the Naira clean, emphasising its significance as a national symbol.
Issues dealt with at the fair by the CBN resource persons included presentations on different banking operations, ranging from recent innovations in the Nigerian payments system.
Others include microfinance sub-sector activities; developments in the foreign exchange market, protection of financial consumers, monetary policy instruments and processes, and indepth knowledge about the Naira.
In his welcome remarks, Calabar branch controller CBN, Mr. Jobunoh Nwannemeka, represented by head , research CBN Calabar, Mr. Jude Nwafor, stated that the Calabar fair is designed to foster trust, transparency, financial literacy, and inclusive engagement with all stakeholders.
Earlier, the president of Calabar Chambers of Commerce, who doubles as former commissioner for Finance in the administration of ex-Gov Liyel Imoke, Mr. Kelly Ayamba, said that the sensitisation exercise initiated by the CBN will pave the way for everyone residing in the state to have access to finances, a development he said will facilitate economic growth.
“We see this as a whole attempt by the CBN to ensure financial inclusion. Financial inclusion in the sense that everybody is carried along,” he maintained.
Special adviser to Governor Otu of Cross River on Agriculture, Prof John Shiyam, lauded the CBN for the initiative, and expressed willingness for collaboration with the CBN.
