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CBN Plans Financial Services in Villages By 2020

Adibe Emenyonu in Benin City

The Central Bank of Nigeria (CBN), Mr. Godwin Emeifele yesterday announced plans to render financial services to villages across the country by the end of 2020.

Emefiele who made the disclosure at a two-day CBN fair tagged, “Promoting Financial Stability and Economic Development,” said the CBN now has a Central Complaints Center where customers can present their challenges which would be resolved immediately.

Represented by the Benin Branch Controller, Mr. Richard Jumbo, the CBN governor said it has become pertinent to sensitise the people on their rights and duties as a customer, urging participants to be dedicated to preaching the CBN gospel of actualising a full cashless society by the year 2020.

According to him, “The banking sector has improved to the extent that you can buy and transfer money with your phone. You can use your ATM to pay for goods in shops through POS.
He said the programme was also aimed at teaching those looking for loan for agriculture and business to be taught how to get the loan.

His words: “We want to bring financial services to the villages that there are things that can be done with the phone not when you want money you have to travel for miles to another town. Now you can seat in your house and send any amount of money you want to send. Now the Central Bank has a channel where you have your complaints and they will be resolved”.

On his part, the Deputy Director and Leader of the Team, MrSam Okojie who spoke on handling the currency said the naira need to be treated with respect as the cost of producing the currency is higher than the denomination itself.

He reiterated that the sales of currency on the streets is punishable by the law setting up the apex bank, noting that a total of 17 states have been covered so far on the preaching of the need to keep the naira clean and neat.

According to him, “We are here as part of efforts to bring our initiative closer to the people and sensitise the masses. We are moving from state to state, lack of information or misinformation is a problem.

Many people are not aware so we have thought it wise to move out, meet the people, explain to them what we are doing, let them ask their questions and they will get feedback.
“We have covered about 17 states, we have gone round and we are going second round with Cross Rivers remaining.

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