Financial Services To Villages Achievable In 2020 Says CBN Governor — Nigeria Today
Pages Navigation Menu

Latest and breaking news, sports and all that is trending today

Financial Services To Villages Achievable In 2020 Says CBN Governor


The Central Bank of Nigeria Governor, Mr Godwin Emeifele on Thursday said plans to render financial services to villages across the country by the end of 2020 are on top gear just as it reiterate it commitment to a cashless society.

Mr Godwin 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 and it will be resolved immediately.

Represented by the Benin Branch Controller, Mr R.D Jumbo, the CBN governor said it became pertinent to sensitize the people on their rights and duties as a customer urging participants to be dedicated in preaching the  gospel of the apex bank of actualizing 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 to teach, “Those looking for loan for agriculture and business will be taught how to get the loan.

“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 now has a channel where you have your complaints and they will be resolved”. He added.

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

He said, 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 need.

According to him, “We are here as part of efforts to bring our initiative closer to the people and sensitize 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 though 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.

“The target is that we plan to reduce the financial non inclusion service by 20 percent in 2020 because we know that now quite a number of people have no access to financial services. So doing the Central Bank has improved on the national payment on agriculture to accommodate larger people using fewer devices like the GSM.

He continued, “The bank is collaborating with security agencies. The laws are there and if anyone is caught whether spraying or selling, is an offence under the law setting up CBN. So the enforcement is the level we are moving to now because we have been preaching to people that spraying of money in parties and selling of the naira currency along the streets is not right.

“It is only in Nigeria that they sell currency. They will get new one and horde in and turn around to say there is no money in their system”. He added.

Follow us on twitter @NigeriaTodayNG

Also, Like us on facebook

This post was syndicated from Nigerian News from Leadership News. Click here to read the full text on the original website.


Notify of
Download the Nigeria Today app from Play store. Click here download now
Hello. Add your message here.