September 16, (THEWILL) — The Central Bank of Nigeria on Tuesday held a sensitisation fair in Kano to educate residents on its policies aimed at driving sustainable economic growth and development.
Speaking at the event, the bank’s Acting Director of Corporate Communications, Mrs. Hakama Sidi Ali, said the fair was designed to create a platform for interaction with members of the public on the CBN’s programmes.
She explained that the theme of the fair, “Driving Alternative Payment Channels as Tools for Financial Inclusion, Growth and Accelerated Economic Development,” was carefully chosen to highlight the role of small and medium-scale enterprises and other critical sectors in achieving price stability and growth.
Sidi Ali noted that under the leadership of Governor Olayemi Cardoso, the apex bank remained committed to stimulating productivity, enhancing financial inclusiveness and ensuring monetary and price stability.
According to her, the bank has recorded significant achievements in the past two years, including increased inflows of foreign investments, positive trade balances and remarkable progress in financial inclusion.
She listed some of the policies rolled out by the CBN to strengthen the financial system as exchange rate unification, which minimises arbitrage and reduces volatility in the forex market; clearing of over $7bn verified backlog of FX forwards; and bank recapitalisation to boost resilience and global competitiveness of Nigerian banks in line with the drive for a $1 trillion economy.
Other measures, she added, included the introduction of a non-resident Bank Verification Number to connect Nigerians abroad to local banking, the launch of the Nigeria Payments System Vision 2028 to deepen digital transformation and financial inclusion, and the rollout of a Unified Complaints Tracking System to better manage consumer complaints against financial institutions.
Sidi Ali also disclosed that a USSD code (*959#) had been introduced to enable the public verify licensed financial institutions, thereby enhancing transparency in the sector.
“The core objective of this engagement is to sensitise members of the public on how the bank’s policies enhance their lives and livelihoods and contribute to the growth of the economy,” she said.
The fair, which held at the Meena Event Centre, attracted members of the business community as well as other residents of Kano State.
Abdullahi Yusuf is a seasoned journalist, communicator and was previously the Deputy Editor-In-Chief and Zonal Manager, News Agency of Nigeria, NAN, Jos, where he retired on December 15, 2021
