CBN Restates Commitment To Ensuring A Robust Payment System In Nigeria

Business, Uncategorized

By Sunny Adebija – Lokoja

The Central Bank of Nigeria, CBN, says it is committed to building an efficient, effective, reliable and robust payment system that will increase flow of finance to critical sectors as well as increase the nation’s foreign reserve.

Governor of the apex bank, Godwin Emefiele, stated this in a message to a one day interactive with critical stakeholders from the Organised Labour on the five-Year Policy Thrust of the CBN, twenty nineteen to twenty twenty four held in lokoja.

Represented by the Acting Director Corporate Communications Department of the bank, Osita Nwanisobi, Mr Emefiele said the CBN’s five-Year Policy Thrust was to grow the nation’s economy by double digits, lower inflation rate and accelerate job creation.

He said the bank has been professional, apolitical and people centred in driving its policy by promoting sustainable economic development, managing the domestic value of the naira, providing monetary stability as well as advising the government on the economy.

Chairman, Nigeria Labour Congress, Kogi state chapter, Comrade Onuh Edoka, said there was urgent need to revamp the nation’s economy especially as it was just recovering from the covid nineteen pandemic and the End SARS protest.

While calling on the CBN to ensure that the nation’s monies were channeled towards the right direction Comrade Edoka also called on the apex bank to ensure more supervision and monitoring of commercial banks in the area of unwarranted changes.

On his part the President Trade Union Congress, kogi state, Ojo Ranti, called on the CBN to fashion out ways to stimulate the nation’s economy through the provision of liquidity facilities to Micro, Small and Medium Enterprises.

Facilitator of the interactive and Vice President, Global Industrial Union, Issa Aremu commended the CBN for promoting financial inclusion as the Organised Labour was being carried along in its policy formulations.

He said Nigeria over the years had witnessed systematic progress in building strong institutions as the CBN was able to intervene when some state governors were not able to pay salaries of their workers.

Comrade Aremu urged federal government ministries, departments and agencies to compliment the CBN’s interventions in different sectors by being alive to their respective responsibilities.

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