New Telegraph

CBN: Local manufacturing, consumption’ll boost economy

The Central Bank of Nigeria, CBN, has stressed the need for more Nigerians to get involved in agriculture and manufacturing to boost the country’s economy.

The bank’s Deputy Director, Sam Chigbue, who spoke at a sensitization seminar in Port Harcourt, Rivers State, noted that the economy belongs to everybody, and that the only way to boost the whole economy was for everybody to make contributions.

Chigbue, who spoke on behalf of Mr. Osita Nwasiobi, the bank’s Director, Corporate Communications Department, said that to improve the country’s economy, the bank has been working with different people to make their contributions to the economy.

He said: “The CBN is about the economy and the economy is about everyone doing something for the economy. We want you to think with us about the economy. Whatever you are doing, we are conscious of how it impacts on the economy…

“In the last 15 years, we have passed through many problems such as economic recession, COVID-19, which have impacted on the economy. We are battling with insecurity, oil theft and the urge for foreign goods which affects the nation’s Gross Domestic Product, GDP.”

“If you are consuming foreign rice, know that is why your child that just graduated cannot find a job. We need to buy locally instead of buying foreign goods. This economy belongs to all of us, and we should all do something.’

“CBN is about the economy and the economy is about the people. We are here to interact with you about economy as to be conscious of what you are doing that impacts on the economy.”

The event attracted business people, banks, farmers, cooperative societies, NYSC members and workers of various establishments who were enlightened on consumer protection, payment finance and eNaira transactions.

CBN”s Assistant Director, Consumer Protection Department, Denmola Atanda; Chika Ugwmeze, CBN Assistant Director, Payment System and Stanley Oruyeigha , Head Development Finance Department, CBN Port Harcourt office, also enlightened the participants on consumer protection, and payment system.

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