Financial Inclusion: CBN fair promotes alternative payment channels, others

•Pledges availability of clean naira notes

By Doreen Ifiemor

The Central Bank of Nigeria, CBN, yesterday at its maiden  financial services fair, counselled members of the banking public on proper use of alternative payment channels, naira notes, consumer rights and obligations as well as practical tips on fraud prevention. 

Addressing participants at the fair which held in Lagos, Acting Director, Corporate Communications, Department, CBN, Hakama Sidi-Alli, said: “The theme of this fair, “Driving Alternative Payment Channels as Tools for Financial Inclusion, Growth and Accelerated Economic Development”, is very apt, as it was chosen to address the imperative of value addition and the links that catalyse SMEs and other economic activities to attain the much-needed price stability.

“The objective of this engagement is to sensitise the public on how the Bank’s policies and innovations can enhance their lives and livelihoods, and contribute to the growth and development of the Nigerian economy.

“I would like to say a word about our currency — the naira. The CBN will continue to ensure the availability of clean currency. However, we urge you to see the naira as a critical symbol of our national identity. Please respect it and keep it clean. Do not hoard, mutilate, counterfeit, or damage the naira.”

The fair   featured five key presentations to educate participants on the efforts of the apex bank  to expand financial services access across Nigeria.

Educating  participants on how the CBN protects savings, enables loan access, increases homeownership opportunities, and builds public trust in the financial system, Mr. Ayodeji Ojo from the Other Financial Institutions Supervision Department (OFISD), said: “We are implementing key strategies that expand access to services across Nigeria while promoting the adoption and use of secure digital services.” 

In his presentation, Mr. Olufemi Fakeye from the Consumer Protection/Financial Inclusion Department outlined seven fundamental consumer rights, including the right to be informed, choice, safety, consumer education, confidentiality, redress, and fair treatment.

He also provided practical fraud prevention tips, advising consumers to keep PINs secret, set account limits, avoid sharing details over phone or SMS, keep cards and PINs separate, maintain SIM locks, and promptly report any suspicious activities.

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