CBN directs banks to apply I & E rates for PAPSS transactions

The Central Bank of Nigeria (CBN) has said that the bank is sensitising Nigerians to become security conscious and be able to identify fraudsters and fraudulent schemes.

Mr Osita Nwanisobi, Director, Corporate Communications, disclosed this on Thursday in Abakaliki during CBN FAIR programme with the theme: “Promoting Financial Stability and Economic Development.

Nwanisobi said the institution was also collaborating with security agencies to arrest fraudsters who had defrauded Nigerians via ponzi schemes and other fraudulent actions in the country.

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“We have done quite a number in this regard to ensure those who claimed to be what they are not are brought to book. Most of these people do not have licence, they just operate.

“You are the greatest security for yourselves because when you are sensitised, you will be able to identify them the moment you see it.

“Meeting like this is to listen to people’s compliance and ensure inclusive growth and economic development, ” Nwanisobi said.

According to him, the eNaira platform recently launched is guaranteed because the technology it uses is encrypted with two factor authentication.

“The platform is secured,” Nwanisobi said.

The CBN Controller, Abakaliki, Mr Chris Adayi, said the CBN fair had served as a veritable platform to enlighten the public on various initiatives of the bank.

Adayi said that the sensitisation fair like others before it, was anchored on the pursuit of economic policies that would engender economic growth through financial leverage that the initiatives provided.

He said that the initiatives included the payment system initiative, real sector initiative, financial inclusion, consumer rights, grievance redress mechanism, among others.

“It is my sincere hope that all questions regarding any grey area will be adequately addressed in this fair.

“Let me state that the dynamic economy has informed the need for the CBN to continually evolve policies, programmes and initiatives that has continued to meet the unique needs of our people.

“We observed that participation of South-East in these initiatives over the years had remained very low.

“It is on this note that I urge you all to take advantage of various CBN economic initiatives and policies to enhance your economic growth and wellbeing,” Adayi said.

Meanwhile, the state Commissioner for Agriculture and Natural Resources, Mr Moses Ogodoali while commending the CBN for organising the programme, pledged for continuous partnership with the institution for more economic development.

Ogodoali advised the public to take advantage of the CBN interventions as well as accessing the facility through cooperative.

The News Agency of Nigeria (NAN) reports that the institution engaged various stakeholders and cooperative groups to build confidence in the financial system.

Vanguard News Nigeria

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