CBN reiterates commitment to building people-centred bank

The Central Bank of Nigeria (CBN) has reiterated its commitment to being people-centred and meeting the needs of the Nigerian people.

Mr Osita Nwanisobi, Acting Director, Corporate Communications Department, CBN made the assertion on Thursday at the opening of a two-day CBN fair, held concurrently in Lagos and Abeokuta, Ogun.

It was reported that the fair is a platform where CBN has interactions with significant stakeholders to explain some of its policies, interventions initiatives and programmes.

It is also to solicit responses from them in a bid to help the bank refine its policies.

“If you will recall, when the Central Bank Governor, Godwin Emefiele assumed duty on June 4, 2014, he made a profound statement that his vision is to build a people-centred central bank.

“You cannot build a people-centred central bank if you don’t listen to the people, see how polices and our interventions transmit to the people.

“If you look at the interventions that the governor has come up with, these are interventions that speak to the needs of the average Nigerians.

“So, we will continue to do our best and try more to see how we can meet the needs of the Nigerian people,” Nwanisobi said.

He said that the targeted credit facility, among others that came in as a result of the COVID-19, mitigated adverse impact of the pandemic across families, households and businesses.

Nwanisobi said the bank got into some of the interventions because of the failure and inefficiency of the credit market.

Earlier, Mr Atise Ekhator, Branch Controller of CBN Lagos, said the Federal Government was desirous to have more investments and rapid inclusive economic growth in Nigeria.

He said that the apex bank was helping the government to achieve its goals.

Ekhator said Nigeria’s economy was already showing signs of promising indicators of recovery because CBN was increasing focus on stimulating local businesses.

He said it was doing so by driving needed credit to sectors with capacity for local production that can meet demand and reduce heavy reliance on imports.

“However, the CBN aims to increase public awareness to promoting sectors like agriculture, healthcare, manufacturing and build a stronger infrastructure in Nigeria, and that is why we are here,” he said.

Highlight of the fair was presentations on operations made by Consumer Protection and Development Finance Department of CBN.

It was reported that various Deposit Money Banks, Bureau de Change Operators, representatives from National Orientation Agency, security agencies, among other organisations attended the fair.