CBN Introduces Intervention Programmes to Support Economy, Says Coordinator

By Mohammed Aminu in Sokoto

The Sokoto State Branch Coordinator of the Central Bank of Nigeria (CBN), Alhaji Dahiru Usman, Thursday said the bank has introduced some strategic intervention programmes to support the Nigerian economy.

Usman made the disclosure at a sensitisation programme organised by the institution at the Sultan Maccido Institute of Quranic and General Studies, Sokoto.

Usman said that the strategic initiatives and intervention programmes introduced were aimed at ensuring sustainable growth and development.

According to him, the initiative and intervention scheme can broadly be classified under sectors of agriculture, manufacturing, micro, small and medium scale enterprises, power and energy and banking.

“Moreover some of these initiatives and intervention schemes are Agricultural Credit Guaranty Scheme, Commercial Agricultural Credit Scheme and Anchor Burrowers programme, among others.

“The various initiatives of the Bank have been hinged on the premise that concerted efforts would be made to deepen credit delivery to the real sectors of the economy.

“This is through the varieties of targeted interventions and schemes. These schemes and programmes for the real sector development have potentials for employment generation, wealth creation and poverty reduction,” he said.

He stated that the sensitisation programme was meant to create a significant awareness for each of the initiatives.

The coordinator noted that in spite of the laudable objectives behind these schemes, low public awareness remained a key challenge that undermined the efforts of the Bank to realise its goals.

“Thus, it is in consideration of the above that the management of the Bank has found it expedient to organise this sensitisation programme,” he said.

Usman urged the participants to come up with issues that were agitating their minds, as it would give them the opportunity to constructively engage the facilitators who are readily available for such interaction.

In his remarks, the Senior Manager, Currency Operation of the CBN, Mr. Jonathan Laburta, highlighted more on the Nigerian currency denominations in use.

He urged people to avoid selling naira notes as such is highly prohibited in the law of the country and would attract severe penalty.