The Central Bank of Nigeria (CBN) has emphasized the need for Nigerians to embrace its intervention programmes to promote financial stability and economic development.
The CBN Director of Corporate Communications, Mr Osita Nwanisiobi, who said this at the opening session of a two- day fair organised by the apex bank, explained that the interventions were aimed at business emancipation and poverty reduction.
He was represented at the event by the Deputy Director, Corporate Communications Department, Mr Sam Okogbue,
He spoke on the theme: “Promoting Financial Stability and Economic Development”, Nwanisiobi and disclosed that the CBN had rolled out interventions in the agricultural, manufacturing and other sectors.
According to him, the CBN’s Anchor Borrower’s programme was the nation’s saving grace for increased availability of rice during the heat of the COVID-19 pandemic.
“During the COVID-19 pandemic, rice was the most single popular component of our palliatives. This is a result of the CBN’s Anchor Borrower’s programme for rice farmers,” he said.
He said that Nigeria’s over-dependence on importation was a factor responsible for the fall in the exchange rate of the Naira.
He described the manufacturing sector as a live wire for economic development.
“No successful economy thrives on promotion of imported products over the exportation of locally manufactured products,” he said.
Speaking, Mrs Uchenna Onyene of the CBN’s Currency Operations Department, implored Nigerians to handle the Naira with care in line with the provisions of Section 21, Sub-section 4 of the CBN Act 2007.
olusola Bello
