The Central Bank of Nigeria (CBN) has restated its dedication to promoting the development of young entrepreneurs by fostering their acquisition of new skills and establishing micro-enterprises that will enhance the country’s economy.
Dr. Isa Abdulmumin, the Director of the Corporate Communications Department at the CBN, declared this during the CBN fair held in Bauchi on Friday.
Abdulmumini encouraged unemployed youths with promising business ideas to seize the opportunities the CBN Agric Small and Medium Enterprises Investment Scheme provided. Through this initiative, they can access funds without requiring collateral to pursue their dreams and aspirations.
He emphasized that young people face significant challenges in finding new employment opportunities and establishing fresh businesses contributing to economic growth.
The director reiterated the central bank’s commitment to fostering business diversification by implementing various interventions across the country. He highlighted the CBN’s passionate and unwavering support for businesses and its efforts to promote diversification in sectors such as agriculture, healthcare, manufacturing, and other crucial areas of the economy.
He assured the CBN will continue fulfilling its primary mandate of ensuring monetary and price stability. Additionally, Abdulmumini stated that the bank will consistently introduce proactive and innovative policies to support all economic sub-sectors.
Represented by Mr. Esu Imo, an Assistant Director at the bank, the director explained that the fair aimed to raise awareness among the general public about how the CBN’s interventions can contribute to the growth of their businesses and the overall Nigerian 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 sustainable economic development in Nigeria,” he said.
The director reaffirmed the CBN’s commitment to maintaining the accessibility of currency and encouraged citizens to recognize the Naira as a vital symbol of our national identity.
“Respect and keep it clean. Do not spray, hawk, mutilate, or counterfeit the Naira,” he said.
Mr. Salahu Mohammed, the acting Branch Controller of CBN Bauchi, stated that the central bank arranged the fair intending to raise public awareness about various initiatives, policies, and programs introduced by the bank. These include e-Naira, payment systems, consumer protection, currency operations, etc.
“The whole essence is to ensure that Nigerians are educated about the bank’s policies and programmes and how they can benefit from them,” Mohammed said.
According to Mr. Ibrahim Sadiq, the State Coordinator of the Wheat Farmers, Processors, and Marketers Association of Nigeria (WFPMAN), the CBN maintains its unwavering dedication to supporting farmers nationwide.
“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.
According to a report by NAN, the presentations at the event covered various topics, including the CBN’s efforts in safeguarding the rights of financial consumers, strategies to maintain the cleanliness of the Naira, initiatives to enhance the accessibility of the Naira to the general public, and recent advancements in the Nigerian payment system.