CBN encourages youths to venture in entrepreneurship

The Central Bank of Nigeria (CBN) has reiterated its commitment to encourage youth entrepreneurs to learn new skills and create micro enterprises that would boost the economy of the country.

Dr Isa Abdulmumin, Director, Corporate Communications Department of the CBN, said this at the CBN fair on Friday in Bauchi.

Abdulmumini urged unemployed youths with good business ideas to grab the opportunities of the CBN Agric Small and Medium Enterprises Investment Scheme to access funds without collateral to pursue their dreams and aspirations.

He said that young people have the hardest time finding new jobs, and establishing new businesses to boost economic growth.

The director reiterated the commitment of the apex bank to promote business diversification, through an array of interventions in the country.

He said CBN was passionate and committed to supporting businesses and promoting diversification through an array of interventions in agriculture, health manufacturing and other key sectors of the economy.

He assured that CBN would continue to deliver on its core mandate of ensuring monetary and price stability.

“It is instructive to state that the bank shall also continually roll out proactive and innovative policies which would ensure that all economic sub-sectors receive the desired support,” Abdulmumini said.

The director, represented by Assistant Director in the Bank, Mr Esu Imo, explained the objectives of the fair were to sensitize members of the public to how the bank’s interventions could grow their businesses and contribute to Nigeria’s economy.

“The fair is also designed as a platform to interact with members of the public on the policies and strategic interventions of the Central Bank of Nigeria for a sustainable economic development in Nigeria,” he said.

The director reiterated that CBN would sustain its efforts towards ensuring availability of currency and urged citizens to see Naira as our critical symbol of national identity.

“Respect and keep it clean. Do not spray, hawk, mutilate or counterfeit the Naira,” he said.

The acting Branch Controller, CBN Bauchi, Mr Salahu Mohammed, said the apex bank organised the fair to sensitise the public to e-Naira, payment systems, consumer protection, currency operations and other policies and programmes initiated by the bank.

“The whole essence is to ensure that Nigerians are educated about the bank’s policies and programmes and learn how they can benefit from them,” Mohammmed said.

Mr Ibrahim Sadiq, State Coordinator, Wheat Farmers, Processors and Marketers Association of Nigeria (WFPMAN), said CBN remained committed to encouraging farmers in the country.

“We commend the CBN for its policy measures to rebuild stronger business confidence and ensure stability in the economy particularly in the financial/banking and agricultural sector,” he said.

Our correspondent reports that there were presentations on how the bank had protected the rights of financial consumers, how to keep the Naira clean, how to make Naira available to the populace and recent innovations in the Nigerian payment system.