Governor of the Central Bank of Nigeria, CBN, Olayemi Cardoso has noted that the emphasis on alternative payment channels in the country has really helped to reduce inflation and stabilise the foreign exchange market.
He said the apex bank is committed to fostering productivity, enhancing financial inclusion, and maintaining monetary and price stability.
Cardoso spoke in Calabar during an interaction with members of the public at a fair to educate the masses about the CBN services.
The fair was also encourage all to make use of the arrays of financial instruments and alternative payment systems for sustainable economic growth and the much-needed price and monetary stability.
According to him, these efforts have already yielded positive results, as evidenced by the steady reduction in inflation and current stability in the foreign exchange market.
Represented by the assistant director of public communications, Mr Uche Tobias, Cardoso dwelt on imperatives of alternative payment channels and the need for all to secure their financial instruments.
He disclosed that the CBN has launched the non-resident BVN to connect Nigerians abroad with home banking facilities.
The Fair had as its theme, “Driving Alternative Payment Channels as Tools for Financial Inclusion, Growth and Accelerated Economic Development”.
Branch Controller of CBN in Cross River State, Mr Jibunoh Nwanneamaka, represented by head of research, Mr Jude Nwafor said this year’s edition of the CBN Fair is designed to foster trust and transparency, financial literacy, and inclusive engagement with all stakeholders.
“The CBN Fair is an effective platform for public enlightenment, where students, workers, bankers, traditional rulers, public servants, businesses, and communities gain firsthand insight into the policies, reforms, and innovations shaping Nigeria’s financial landscape.”
He explained that it was essential that every Nigerian understands and is carried along in all financial decisions that affect them.
