" ITREALMS: Low uptake of economic stimulus in South-East worries CBN - ITREALMS

Wednesday, May 05, 2021

Low uptake of economic stimulus in South-East worries CBN - ITREALMS

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The Central Bank of Nigeria (CBN) has expressed concern over the low participation of the South-East in its economic stimulus, reports ITREALMS.

The acting-Director, Corporate Communications Department at CBN, Mr Osita Nwanisobi, made this observation on Tuesday at the CBN Fair in Enugu, stressing that CBN stimulus packages were meant to aid jobs creation, and engender financial inclusion by providing access to relevant.

Nigerians, he said, desired to pull the stimulus packages of the apex bank for a better living at a time when inflation was spiking and prices of food items souring.

“This CBN Fair enables us to create awareness of all the policies and interventions of the bank and to talk to our people on how they can leverage the programmes.

“We noticed that there seems to be lethargy in terms of people from the zone embracing the CBN interventions.

“There is also the need for the state governments to leverage the Anchor Borrowers Programme to improve the lives of the people,” he said.

Nwanisobi said that the apex bank in its bid to engender inclusiveness started its Commodity Development Initiative with 10 commodities “but now, we are at about 22 commodities.”

“In choosing the commodities we intervene in, we look at the possible impacts and those that will help us to create quick wins.

“We also intervene in areas where we have comparative advantage and not just for local production but for export also,” he said.

As said by Nwanisobi, the CBN governor, Mr. Godwin Emefiele, was very passionate about the 37 stimulus of the apex bank, advising that South-East could do better in accessing them.

*Ozo Nweke Ozo/Editor with additional reports from NAN.

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