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Over 1000 people receive CBN senisitisation in Ebonyi

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THE Central Bank Of Nigerian on it’s programmes aimed at promoting financial stability and economic development, has sensitised over 1000 Ebonyi people on how to use and dictate fake currency.

While Speaking at the International Conference Center in Abakaliki, the Assistant Director and Head of the Internal Communications Division, Corporate Communications Department, CBN, Sam Okogbue, who said that CBN has helped to strengthen the country’s currency and economic development and also noted that CBN’s interventions could not be fully actualised if people do not go and open bank accounts for their benefits and enjoined the participants to utilise the opportunity.

He also bemoaned over-spreading of currency on wedding while stated that sooner, the CBN would begin to clamp down on people who spread money in a wedding.

He urged market women to always check for, water mark, which is to hold the naira note up to the light with the front of the note facing you to view image, check the security trade, serial number before accepting the money.

On mutilated note, the people were asked to return such money to any close CBN for extermination, saying  that after the examination, they will determine the value and pay the owner.

“Our coming here is for two purposes. First is to announce to you that the CBN is ready to rub mind with the Nigerian people. Second is to bring to you some of the initiatives, policies and programmes that the CBN has come out with for the benefit of your economic welfare.

“You will recall that in 2015, our economy was in bad shape. We were not growing economically; that means what amount of goods and services we were producing in our economy was going down. What the economist call the recession.

“And if it is like that, unemployment will be growing. Inflation will also be rising. We discovered that all over the world, the prices of commodity were falling including the price of oil, which is our main export.

“ We discovered that even the foods we eat in this country were all imported. Not just being imported, huge sums of money to the magnitude of almost $1 billion were always spent yearly for the importation of rice. Even toothpick, matches were imported and unemployment was growing.

“ The CBN came out with the policy that says these things which we can conveniently produce in Nigeria, whether food or other small industries, we can no longer give foreign exchange for people to import it.

“I commend Ebonyi State for being best rice producers in the South east. “Ebonyi people have best rice mill, I have been to Ikwo Rice fields. I have seen the two of them here.” Okogbue noted.

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