Central Bank of Nigeria (CBN) has reaffirmed its commitment to promoting financial inclusion, monetary stability, and sustainable economic growth through bold reforms and innovations in the financial sector.
The Governor of the CBN, Mr. Olayemi Cardoso, stated this at the opening of the CBN Fair held in Kaduna.
The Governor who was represented by the Acting Director, Corporate Communications Department, Mrs. Hakama Sidi Ali, said the Fair was designed as a platform to engage members of the public on the policies and programmes of the Bank, with the aim of fostering transparency, inclusion, and stronger economic development.
Mr. Olayemi Cardoso highlighted some of the key policies introduced by the CBN over the past two years, including the unification of exchange rates, clearance of over $7 billion verified backlog of FX forwards, recapitalisation of banks to strengthen resilience, the launch of a non-resident Bank Verification Number (BVN), and the unveiling of the Nigeria Payments System Vision 2028 (PSV 2028).
According to him, these reforms are already yielding positive results such as improved trade balances, rising foreign investment inflows, and notable progress in financial inclusion.
To further protect consumers and strengthen public trust, he explained that the CBN had launched the Unified Complaints Tracking System (UCTS) to streamline complaint resolution processes in banks, alongside a USSD code (*959#) to verify licensed financial institutions.
The Governor also urged Nigerians to rely only on verified CBN communication channels for information and called on citizens to treat the Naira with respect by avoiding acts such as spraying, mutilating, or counterfeiting the currency.
On his welcome address, the Kaduna Branch Controller of the CBN, Mr. Dalhatu A.R. stressed that the CBN Fair remains a critical public enlightenment initiative to deepen financial literacy and strengthen trust between the Bank and the Nigerian people.
He noted that the Fair has become an important avenue for two-way communication, where the CBN not only explains its policies but also listens to feedback and concerns from stakeholders.
Mr. Dalhatu commended the role of stakeholders, including commercial banks, microfinance institutions, fintechs, SMEs, academia, students, and security agencies, in helping to advance the Bank’s mandate.
He encouraged all participants to actively engage in the discussions, noting that public awareness of monetary policy, financial inclusion, digital payments, and consumer protection is critical in today’s rapidly changing economic landscape.
The event featured presentations from CBN departments on innovations in the payments system, activities in the microfinance sub-sector, developments in the foreign exchange market, consumer protection measures, and information about the Naira.
Participants were urged to take advantage of the fair by asking questions, engaging with CBN officials, and leaving the event better informed about the Bank’s policies and their impact on the Nigerian economy.
The theme of this year’s fair, is “Driving Alternative Payment Channels as Tools for Financial Inclusion, Growth and Economic Development”, underscores the Bank’s determination to expand access to finance and support small and medium-scale enterprises across the country.
COV: Adamu Yusuf
