Market News

BY Tony Chukwunyem

The Acting Director, Corporate Communications Department at the Central Bank of Nigeria (CBN), Mrs. Hakama Sidi Ali, has reiterated the apex bank’s commitment to ensuring that naira notes in circulation are clean and of good quality.

Mrs. Sidi Ali, who made this known in her opening remarks at the “CBN Fair” held in Lagos on Tuesday, however, urged Nigerians to always see the naira as a critical symbol of the country’s national identity and thus should ensure that they respect and keep the local currency clean by not, hawking, mutilating, counterfeiting or engaging in any other act that will hurt it.

Noting that Fair was, “designed as a platform to interact with members of the public and critical stakeholders on the policies of the Central Bank of Nigeria for sustainable economic growth and development of Nigeria,” she said that the event was aimed at sensitizing members of the public on how the apex bank’s policies and innovations can enhance their lives and livelihoods and contribute to the growth and development of the nation’s economy.

According to her, the theme of the Fair, “Driving Alternative Payment Channels, as tools for financial inclusion, growth and accelerated economic development,” was quite fitting as it was chosen to, “address the imperative of value addition and the links that catalyze SMEs and other economic activities to attain the much needed price stability.”

She stated that the commitment of the management of the CBN, under the leadership of Mr. Olayemi Cardoso, to stimulating productivity and financial inclusiveness, as well as delivering on its core mandate of monetary and price stability, has resulted in a significant increase of inflow in foreign investment, positive trade balances and a quantum leap in the financial inclusion rate in recent times. The Acting Head of the CBN’s Corporate Communications Department highlighted some of the key measures introduced by the apex bank over the past twenty two months, to strengthen the financial system.