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Civil Society Coalition hails Central bank of Nigeria (CBN) over intervention initiatives

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Civil Society Coalition hails CBN over intervention initiatives

CBN

Call for more advocacy, interventions

The Coalition of Civil Society, on Monday, hailed the Central Bank of Nigeria, CBN, over intervention initiatives geared towards boosting economic activities to create employment and wealth among Nigerians under the Buhari-led administration.

This was stated by the National President, Coalition of Civil Societies, Comrade Etuk Bassey Williams, at the All Civil Society National Economic Summit organised by Coalition of Civil Societies, which was held in Abuja.

Etuk made the acknowledgment while explaining theme of the Summit, ‘Post COVID-19: Understanding The Economic Interventions of CBN & the Roles of Civil Society Groups’ called on the Apex Bank to go on more advocacy and interventions to mitigate the impact of the pandemic on socio-economic lives of Nigerians and businesses.

According to him, the CBN is doing a lot in terms of interventions to boost the economy, but much is not heard and known about them or do not know how to access the supports.

He also said the Summit was held at a time the country needs mechanisms to be put in place to revamp the economy in the post-COVID-19 pandemic era, which these interventions and programmes of the Federal Government through the CBN can make the desired impact.

He said: “This effort of the federal government has further demonstrated its willingness to alleviate the sufferings resulting from unemployment and poverty. It is also aimed at the enlightenment of our stakeholders, particularly the youths on the many interventions of the government and how to access them.

“But we want to recommend to CBN and other agencies of Government to get involved in more advocacy programmes using credible Civil Society Groups in reaching the people and explain these policies and benefits more to the people. It is time to build back the Trust.

“This is the summit is also an attempt to generate fresh narratives that will help shape the perceptions of Nigerians on the impact and efficacy of several monetary and palliative policies during the lockdown period introduced to address the resultant economic challenges occasioned by Covid-19 pandemic.

“Considering also our civic responsibility of interfacing between government and the civil populace, it is right that we support viable and proactive intervention policies of the government.

“Major interventions introduced by the CBN include: Accelerated Agriculture Development Scheme (AADS), Agri-Business, Small and Medium Enterprise Investment Scheme (AGSMEIS)), Real Sector Support Facility (RSSF), Credit Support for Health Sector and Creative Industry Financing Initiative, etc. The whole essence of these efforts by the CBN is to create support for businesses in order to avert recession and headship during and post the covid-19 pandemic.

“It is our expectation that at the end of this summit we would have understood the scope and impact of the many intervention policies of the CBN on businesses and households, and also suggest to the government on how to sustain it and make it accessible.”

Meanwhile, the coalition in a communique after the summit tasked Nigerians to hold public office holders accountable for their responsibilities and service to the people in order for them to sit up and do the right thing and deliver the good.

“There is a need for training civil societies at the national level to help the government inform the citizens of government politics and intervention.

“There is a need for behavioural change among the citizens toward properly understanding government policies. The civil societies should collaborate to discourage ethnic divide and promote unity”, he added

However, the coalition called on Nigerians to get involved in government intervention programmes that will benefit them, especially in the area of entrepreneurship.

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