CBN Engages Ebonyi Residents on Economic fair.

By Ruth Oginyi

The Central Bank of Nigeria(CBN), Thursday urged the southeast zone of the country to partake in initiatives and policies of the financial institution to enhance its economic growth and wellbeing.

The Nigeria apex financial institution decried the low southeast participation in the various economic initiatives of the Bank despite their ingenuity in business.

It said the low participation of the initiatives by the zone has remained very low for years despite sensitization on those initiatives and urged people of the zone to embrace the opportunity.

Mr. Chris Ajayi, the Abakaliki Controller of the CBN, made this known during this year’s edition of the Central Bank of Nigeria fair which took place at Akanu Ibiam International Conference center, Abakaliki, Ebonyi state capital.

The program is majorly targeted farmers, manufacturers, artisans among others.

Ajayi, however, urged the zone to take advantage of various CBN economic initiatives and policies to enhance its economic growth and wellbeing.

According to him, the CBN fair has served as a veritable platform to enlighten the public on the various initiatives of the bank. This sensitization 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 October 2021. It is my sincere hope that all questions regarding any grey area would be adequately addressed in this fair.

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

“We have however observed that participation of southeast in these initiatives over the years have 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.

On his part, the Director, Corporate Communication Department of the CBN, Osita Nwanisobi, said efforts have been intensified to bring Ponzi scheme operators to book in the country.

“The first is to sensitize the Nigerian public because you are the greatest security for yourselves. And so, when we sensitize you and you begin to see some of these things. The moment you see it you will know. The other thing is for us to work with the security agencies to ensure that those who gullibly defraud Nigerians must be brought to book and we have done quite a number in this regard. We work with security agencies to ensure that those who claim what they are not, are brought to book.

“But the most important thing like I keep saying is that you are the greatest security. There is no way somebody will come and tell you that he has a product that will give you 10% every month and that translates to 120% per annum. Where is he going to make the money from? What kind of business is the person doing? Is the person regulated?”

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 factors authentication. And so, the issue of whether the platform is secured is taken as even it is secured.

“The e-naira project is a journey, we expect that there are going to be minor challenges and I can tell you where some of these things are coming from. The e-naira platform works with BVN and if I ask some of you the email you used, you won’t know”.

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