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CBN Engages Ogun Farmers, SMEs On Financial Inclusion - Business - Nairaland

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CBN Engages Ogun Farmers, SMEs On Financial Inclusion by froz(m): 10:59am On Jun 22, 2017
IN continuation of its enlightenment campaign, aimed at bringing more people into the formal financial sector, the Central Bank of Nigeria (CBN) on Tuesday held a seminar for farmers and Small and Medium scale Enterprises operators in Abeokuta, Ogun State. The apex bank used the opportunity provided by the financial inclusion fair to educate participants on its numerous real sector intervention programmes.


These programes the bank said are geared towards enhancing the welbeing of Nigerians and promoting economic developmemt in general. Speaking on the theme of the seminar, “Promoting Financial System Stability and Economic Development,” CBN’s Deputy Director, Consumer Protection Department, Hajia Kadija Kazeem said the bank took its enlightenment campaign to the ancient city of Abeokuta in order to inform the people about its activities, interventions and recent developments in the financial system.
Her words: “We want to interact with you one on one. The bank’s officials are here to talk to you about rights and responsibilities of bank customers, how we can lodge complains to CBN if we have issues with our financial service providers.

“You will also be informed about diffetent efforts of the CBN to ensure that every Nigerian is financially included, so that all of us can enjoy enormous opportunities that abound in this space.”

In his welcome address, the Abeokuta branch controller CBN, Mr Babatunde Amao called on the farmers and SME operators to make constructive criticisms and suggestions that could serve as useful contributions towards pulling the country out of recession. He said the CBN recognizes the importance of the city, and the fact that Abeokuta is home to most prominent Nigerians some of whom are dead and some are still living.

Also, Dr Xavier Okon, senior manager development finance department CBN, explained to participants that through this department, the apex bank helps to solve the problems most businesses face in Nigeria, especially that of long-term financing needs which commercial banks cannot meet because their funds are mainly short term in nature.

According to him, CBN has intervened in agriculture, infrastructure, SMEs sector among others.

Some of the participants who complained about difficulties in accessing loans as well as high cost of borrowing, rising cases of distruction of cultivated farms by herdsmen including other bottlenecks, were told by Okon to avail themselves of the opportunities provided by the CBN’s Anchor borrowers programme, the Agricultural Credit Guarantee Scheme Fund (ACGSF), as well as the Commercial Agriculture Credit scheme which offers some guarantees and an interest rate of 9 percent.

While assuring participants that the federal government is addressing the issue of herdsmen, he also advised participants to approach any bank and demand for loan as a right from any of the CBN intervention funds as long as they fulfil the criteria and it will be given to them.

Mr Philip Wondi, principal manager, finsncial policy department of the CBN also reminded participants that as beneficiaries of banking services, “we need to familiarize ourselves with industry regulations in order to enable us enjoy banking services to the fullest.”

He noted that every bank customer should know that he or she has the right to get complete information from “your bank.” The customer has the right to choose from a range of products, right to redress, good service, right to safety, privacy and confidentiality among others.

On his part, the assistant director, currency department of the CBN, Mr Ben Maduagwu said that the message from the central bank is clear.

“Every person should respect the naira because it costs so much to print a single note. The Nigerian police force and other agencies, traders, businessmen and women, clerics and everyone should have a wallet where they put currencies.”

According to Maduagwu, puting the notes on a wallet, saying no to squeezing and spraying money at parties will go a long way in helping the local currency last long and save the nation that cost of printing new notes regularly.

In the same vein, Mrs Lilian Kuje, assistant manager, banking and payment system department of CBN called on the farmers and the general public to begin to make use of alternative banking channels such as agent banking, mobile money, other electronic payment incentive system to enjoy banking services at their convenience.

SOURCE: https://brandspurng.com/cbn-engages-ogun-farmers-smes-on-financial-inclusion/
Re: CBN Engages Ogun Farmers, SMEs On Financial Inclusion by rodeo0070(m): 12:43pm On Jun 22, 2017
Omo Ogun Ise Ya... grin grin grin

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