BY VICTOR NWEGEDE
Mr Philip Yilla Yusuf, the Director, Development Finance Department of the CBN, in his address explained the financial inclusion drive as an initiative of the apex bank in the country and other stakeholders to improve access of unbanked Nigerians to financial products and services.
The Director whose address was read by the CBN Controller, Abakaliki Branch, Mr Adayi Christopher recalled that the first phase of the program was held in Gombe State, where over 25,000 women and youth were engaged with Bank Verification Numbers (BVNs) registered and acounts opened for the participants at the grassroot levels.
He said, CBN considered this as a better way to perform monetary and price stability functions when the entire population operates under the formal financial system.
According to him, the tag line for the drive is to 'open acount' and 'get beta life.'
"The tag line for the drive; 'open account, get beta life and the proposed target for number of persons reached (women and youth engaged, products deployed) is 25, 000 at the end of the week," the Director said.
He commended Ebonyi State government and other relevant stakeholders especially the grassroot leaders, the partners, aiding institutions and the financial service providers for their continued support for inclusive growth and development of the Nigerian economy.
He assured of the CBN's commitment towards boosting the growth and development of the Nigerian economy as witnessed by numerous financial interventions deployed to reduce the negative effect of the COVID-19 pandemic on business and those targeted at the youth including the tertiary institutions entrepreneurship scheme (TIES).
He said that the drive was aimed at unleasing the potentials of the Nigerian graduate entrepreneurs (gradeprenurs) by providing re-orientation, training and innovative financing model that will enhance the entrepreneurial ecosystem with transformational impact on the economy.
Yusu further disclosed that the bank has also embarked on improving the agricultural sector through interventions aimed at improving food security in Nigeria, in line with the anchor borrowers program (ABP) and the Agri-business Small and Medium Enterprise Equity Investment Scheme (AGSMEIS).
He equally said that the program would help to reduce some of the barriers to inclusion including long distance to financial access points, adding that, there are mobile solutions providers participating and providing options for mobile wallets and other digital options for women and youth in the state.
The event was flagged off by the Ebonyi Governor Dave Umahi, represented by the State Commissioner for Women Affairs and Social Development, Princess Chinwe Okah.
Governor David Umahi while commending the CBN team and their partners, urged Ebonyi women and youth to massively participate in the program in considering its lofty benefits, assuring them of his full support to ensure it runs successfully in all the council areas of the state.
In his remark, the Executive Chairman of Ezza South Local Government Area, Engr. Ken Eze described the event as a welcome development.
He also expressed happiness that the first benefiting councils in the state including Ezza South, Ebonyi, Ishielu, Ohaozara and Ivo with the representatives of the CBN and other aiding financial institutions were present and urged Ebonyi people to utilize the opportunity well.
