Imo: CBN sensitises stakeholders on stability of financial system

The Central Bank of Nigeria (CBN) has concluded a one-day interactive session with stakeholders on measures being put in place to ensure stability in the financial system and economy.

Addressing stakeholders at a forum in Owerri, Imo state capita, the general secretary, Textile workers union and Vice President, industrial global union, comrade Isa Aremu, commended CBN for seeing Nigerian workers not just as factors of production but as beneficiary in monetary policy democratisation.

He commended President Muhammadu Buhari for re-appointing CBN governor, Godwin Emefiele for second term, adding that Emefiele has brought a lot of activism in the monetary policy.

He said through Emefiele, CBN has stimulated production by collaborating with Bank of Industry to provide financial assistance to ensure that the textile industry comes back on stream and has blocked smugglers from having access to foreign exchange as they don’t pay excise duties but smuggle in unauthorised materials.

While commending President Buhari for increasing the minimum wage from N18,000 to N30,,000, Aremu advised him to look for energetic hands as new ministers who would be able to drive the fiscal and economic policies of the country.

Also speaking, the director, Corporate Communications department, Isaac Okoroafor, commended Aremu for his intellectual capacity.

Okoroafor said in the last four years, CBN has done all given to it as mandate by ensuring monetary stability, maintaining internal reserve, ensuring sound financial system, advising government where necessary, going extra miles in fixing the economy etc.

He further said the CBN governor, Emefiele was able to declare that the welfare of ordinary Nigerians must be made the focus, which was why inflation was reduced from 18.7% to 11.2%.

Okoroafor stated that the apex bank planned to fund the establishment of film, music academies because of the leading roles Nigerian youths played in the world, especially in Africa where they held sway and also set up an ICT centre.

Brief lectures were later delivered by Dr Ogigi of the monetary system department, on financial system stability; Amina Abdelmalik from the department of currency operations on management/ handling of legal tender; Chy Gang on payment system; and S.M. Tyogen on financial market.

Be the first to comment

Leave a Reply