CBN sensitises Oyo residents on financial policies, fake Naira detection
By Adewale Owoade
The Central Bank of Nigeria (CBN) has reaffirmed its commitment to strengthening the country’s financial system through policy reforms, improved financial inclusion and sustained stakeholder engagement.
The bank said the initiatives were aimed at promoting monetary and financial stability, enhancing public confidence and supporting sustainable economic growth.
The Director of the Stakeholder Engagement and Institutional Relations Department of the CBN, Mrs Hakama Sidi-Ali, stated this at the CBN Listens Programme held in Ibadan, Oyo State, with the theme, “Towards a Robust, Resilient and Inclusive Financial System for Sustainable Economic Growth.”
She described the programme as one of the bank’s flagship platforms for direct engagement with stakeholders across the country.
Sidi-Ali said the theme was timely and significant, given Nigeria’s rapidly evolving economic and financial landscape.
“The Central Bank of Nigeria, under Mr Olayemi Cardoso, remains steadfast in its mandate of ensuring monetary and financial system stability while promoting confidence in the economy.
“Recent years have witnessed significant reforms aimed at restoring macroeconomic stability, strengthening financial markets, enhancing transparency, deepening financial inclusion and positioning Nigeria for sustainable growth.
“These priorities align with the bank’s strategic objective of promoting a robust, sound and inclusive financial system that leverages innovation to enhance Nigeria’s competitiveness,” she said.
She noted that the CBN had introduced far-reaching reforms to strengthen the resilience and integrity of Nigeria’s financial system.
Highlighting some of the initiatives introduced under Cardoso’s leadership over the past 38 months, Sidi-Ali listed foreign exchange market reforms, increased transparency in the market and the recapitalisation of the banking sector, among others.
“The Central Bank of Nigeria firmly believes that economic growth cannot be sustainable without inclusiveness.
” Financial inclusion remains a critical pillar of national development because it expands economic opportunities, reduces poverty, supports entrepreneurship and promotes shared prosperity.
“The programme, therefore, provides an opportunity for us to further explain our policies, clarify misconceptions where they exist, receive feedback and identify emerging issues affecting individuals, businesses and communities,” she said.
Earlier, the CBN Branch Controller in Ibadan, Dr Adebowale Olabimtan, urged participants to engage actively in the programme and pay attention to the issues discussed.
“This engagement is the first and is aimed at sensitising people in Oyo State on the various policies and programmes of the bank. I urge us all to please listen attentively and participate,” he said.
In separate presentations, Mr Hamsa Muhammed of the Consumer Protection and Financial Inclusion Department and Mr Samir Usman of the Risk Management Department discussed the responsibilities and activities of their respective departments.
Also, Mr Paul Onuoha of the Currency Operations and Branch Management Department highlighted the adverse effects of counterfeit naira notes on the economy and demonstrated how to identify fake currency.
Some participants commended the CBN for organising the programme, pledging to share the information with people in their respective communities and areas of influence.
The programme was attended by representatives of financial institutions, market and trade associations, professional bodies, academia, civil society organisations, corps members and students.
(NAN)
