The Central Bank of Nigeria (CBN) has taken its message directly to the grassroots, using a public fair in Abeokuta to highlight how its latest policies and innovations are shaping livelihoods, boosting productivity, and driving inclusive growth.
At the event, themed “Driving Alternative Payment Channels as Tools for Financial Inclusion, Growth, and Accelerated Economic Development,” the CBN stressed that its policies are not just about monetary stability but also about creating everyday value for Nigerians.
Building Confidence in the Financial System
Mrs. Hakama Sidi-Ali, Acting Director of Corporate Communications, explained that the Bank’s leadership under Governor Olayemi Cardoso has pursued reforms that attracted fresh foreign investment, improved trade balances, and significantly widened financial inclusion. She revealed that in the last 22 months, policies such as the Unified Complaints Tracking System (UCTS) and the *959# USSD verification service have been introduced to protect customers and enhance transparency in banking.
Protecting the Naira, Protecting the People
Sidi-Ali also urged Nigerians to treat the Naira as a “national identity symbol,” discouraging its abuse through spraying, hawking, or mutilation. According to her, protecting the currency is directly tied to protecting the nation’s financial reputation.
Listening as Much as Speaking
The Abeokuta Branch Controller, Mr. Malik Ademola, emphasized that the fair goes beyond explaining CBN’s policies—it provides an avenue for Nigerians to voice their concerns and expectations. “This two-way communication is vital for building trust,” he said, noting that the forum has grown into a powerful tool for improving financial literacy and bridging the gap between the apex bank and ordinary citizens.
Stakeholders Call for Support of SMEs
Adding to the discussion, Mr. Bunmi Ogunrinde, founder of Landgold Microfinance, appealed to the government to prioritize policies that directly benefit small and medium enterprises (SMEs), stressing that they remain the backbone of Nigeria’s economic growth.
A Push for Shared Prosperity
The CBN reiterated its commitment to inclusive finance, consumer protection, and transparent digital payment systems as part of its broader agenda to stabilize the economy while ensuring that every Nigerian feels the impact of monetary policy in their daily lives.
