By Franklin Alli

Consumer Protection Council (CPC) has commended the Central Bank of Nigeria for having adopted consumer protection strategy.

The Council has also called for the speedy passage of its amendment bill by the National Assembly, citing its many gains to the economy.

CPC Director General, Ify Umenyi, while applauding the apex bank for establishing consumer protection department and drafting consumer protection framework, noted that by this development; CBN has realised the importance of consumer protection as a catalyst for economic growth.

Umenyi, who was the guest during the monthly forum of the Commerce and Industry Correspondents Association, CICAN, in Lagos, said that for Nigerians to feel the impact of the agency as much as expected, the National Assembly should pass the Council’s amendment bill into law.

According to her, the efforts of the Council in safeguarding the interests of Nigerian consumers, is being hampered by the absence of a clear cut policy on consumer protection.

“The amended bill will go a long way to protect the rights of consumers in the country, enhance the agency’s statutory performance and promote healthy competition needed for a thriving economy,” she said.