CBN Policies: Coalition Tasks Apex Bank On Advocacy

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Coalition of Civil Society has called on the Central Bank of Nigeria (CBN) to engage Nigerians through adequate advocacy, saying the Apex bank has done alot to improve the country’s economy yet, much is not heard about it.

Speaking during the All Civil Society national economic summit organised by Coalition of Civil Societies, the national President, Comrade Etuk Bassey Williams, said the Apex bank has been doing alot to ameliorate the economic challenges of Nigerians but much are not said about it.

Etuk said the summit themed: “Post Covid-19: understanding the economic interventions of CBN & the roles of civil society groups” has come at a very time when the country is in dire need of a calm and positive atmosphere to revamp the economy using various interventions of the federal government through the Central Bank of Nigeria.

“This effort of the federal government has further demonstrated its willingness to alleviate the sufferings resulting from unemployment and poverty. It is also aimed at enlightenment of our stakeholders, particularly the youths on the many interventions of the government and how to access them.

“But we want to recommend to CBN and other agencies of Government to get involved in more advocacy programmes using credible Civil Society Groups in reaching the people and explain these polices and benefits more to the people. It is time to build back the Trust.

“This is summit is also an attempt to generate fresh narratives that will help shape the perceptions of Nigerians on the impact and efficacy of several monetary and palliative policies during the lockdown period introduced to address the resultant economic challenges occasioned by Covid-19 pandemic. Considering also our civic responsibility of interfacing between government and the civil populace, it is right that we support viable and proactive intervention policies of government.

“Major interventions introduced by the CBN includes: Accelerated Agriculture Development Scheme (AADS), Agri-Business, Small and Medium Enterprise Investment Scheme (AGSMEIS)), Real Sector Support Facility (RSSF), Credit Support for Health Sector and Creative Industry Financing Initiative etc. The whole essence of these efforts by the CBN is to create support for businesses in order to avert recession and headship during and post covid-19 pandemic,” he said.

Etuk further said most people either are not aware of these interventions or do not know how to access the supports.

“It is our expectation that at the end of this summit we would have understood the scope and impact of the many intervention policies of the CBN on businesses and households, and also suggest to the government on how to sustain it and make it accessible,” he said.

In a communique after the summit, the group also called Nigerians to interrogate government actions and policies so as to put them on the right path.

“There is a need for training civil societies at the national level to help the government inform the citizens of the government politics and intervention.

“There is need for behavioural change among the citizens toward properly understanding government policies. The civil societies should collaborate to discourage ethnic divide and promote unity.”

The group therefore urged citizens to endeavour to get involved with government intervention available in the entrepreneurial sector.

– Blueprint

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