CBN cautions Nigerians over unlicensed financial institutions

As part of efforts to address fraudulent financial activities of some dubious characters, the management of the Central Bank of Nigeria (CBN) has warned the public to stop patronising unlicensed institutions in the country.

The CBN Governor, Mr Godwin Emefiele, gave the warning in Yola, on Thursday, at the 2022 Central Bank of Nigeria Fair with the theme ‘Promoting Financial Stability and Economic development’.

Represented at the two-day sensitisation programme by the Director, Cooperation communication Department, CBN, Mr Osita Nwanisobi, Godwin Emefiele, said that the programme is being conducted concurrently in Adamawa and Taraba to sensitise Nigerians on CBN’s policies and interventions.

He stressed that records at their disposal is showing that many Nigerians are becoming victims of these ungodly scammers.

Emefele stated that the program is also aimed at working on how to enhance the economic well being of the Nigerians through a sound financial system for a stable and robust financial responsibility in the country.

“CBN Fair is highly harmonised for the sensitisation of all CBN initiatives ranging from payment systems, consumer protection, Financial inclusion, clean note policy, agricultural Finance initiatives, Real sector intervention as well as e-Naira as well a to create awareness on CBN initiatives towards a sustainable economic development of Nigeria at large.”

In his goodwill message, the Branch Controller of CBN Yola, Sanusi Sah Nyashi, applauded the CBN for choosing Adamawa and Taraba for this year’s Fair programme acknowledging that Adamawa is one of the locations where CBN initiatives and interventions are fully embraced.

He urged the participants to pay attention to various presentations and ask questions where there is a need so as to tap opportunities from the initiatives.

Participants attending the programme were drawn from both public and private sectors as some of the previous beneficiaries were seen displaying their products at the entrance of the venue.

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CBN cautions Nigerians over unlicensed financial institutions