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CBN and NAPEP to join hands to fight poverty

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The National Poverty eradication programme NAPEP and the Central Bank of Nigeria CBN, have agreed to work more closely for the good of the poor and overall development of the country.

This was the outcome of a meeting between the new Central Bank Governor Alhaji Sanusi Lamido and Dr. Magnus L. Kpakol National Coordinator of NAPEP, who led a team of NAPEP officials to the office of the Central Bank Governor.
Dr. Kpakol who congratulated the CBN Governor on his appointment as the helmsman of Nigerians apex bank, said that there are vivid indications that Alhaji Sanusi was going to pursue policies that would accelerated economic development in which NAPEP was going to play its part.

‘’NAPEP, he said is a programme of the Federal government and belongs to every arm of Government so we will work with the central bank not only to ensure economic development but also combat the incidence of poverty”.
He pointed out that about 50% of Nigerians are in poverty and that there is the need for some form of conscious government intervention to ensure that this segment of the population is enabled to contribute to economic development. ‘’the trickle down effect does not work where the poverty membrane is so thick, so there must be a helping hand for the poor, through micro credit and other measures,” he said.

Dr. Kpakol stressed that community based programme implementation is critical hence NAPEPs current emphasis on Village Economic Development Solutions Scheme where every Village is being   encouraged to have anchor processing facilities. He also informed the CBN Governor of the Village Trust Fund Scheme where L.G Chairman are encouraged to make funds available to communities for spurring economic activities.

On his part, the CBN Governor informed the NAPEP officials that his areas of emphasis as Governor were going to be on financial stability, improvement in efficiency in the payment system and optimizing CBNs potentials as an agent for economic development.

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