CBN decries low participation of South-East in economic initiatives

The Central Bank of Nigeria (CBN) on Thursday decried the low participation of the South-East in various economic initiatives of the bank.

It said the participation in the initiatives by the South-East has remained very low for years despite efforts to sensitise them on those initiatives.

Abakaliki Controller of CBN, Chris Adayi, stated this during this year’s edition of the CBN fair which took place at the Akanu Ibiam International Conference Centre, Abakaliki.

He therefore urged the zone to take advantage of various CBN economic initiatives and policies to enhance its economic growth and wellbeing.

“The CBN fair has served as a veritable platform to enlighten the public on the various initiatives of the bank. This sensitisation fair, like others before it, is anchored on the pursuit of sound economic policies that will engender economic growth through the financial leverage that these  initiatives provide. 

“Some of these initiatives include the payment system initiative, real sector initiative, financial inclusion, consumer rights, grievance redress mechanism and a host of others.

“We are all aware of the launch of the CBN digital currency known as e-naira by Mr President on the 25th of October, 2021. It is my sincere hope that all questions regarding any grey area would be adequately addressed in this fair.

“Let me state that the dynamic economy has informed the need for the CBN to continually evolve policies, programmes and initiatives that have continued to meet the unique needs of our people.

“We have however observed that participation of the South-East in these initiatives over the years has remained very low. It is on this note that I urge you all to take advantage of various Central Bank of Nigeria  economic initiatives and policies to enhance your economic growth and wellbeing,” he said.

While addressing journalists during the fair, the Director, Corporate Communication Department of the CBN, Osita Nwanisobi, added that efforts have been intensified to bring Ponzi scheme operators to book.

On the e-naira launched by President Muhammadu Buhari recently, he said, “the issue of security and dependability of the e-naira platform is guaranteed; guaranteed because the technology uses kleptography encrypted with two-factor authentication. And so, the issue of whether the platform is secured is taken.”

 

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