Fidelity bank banner Camano banner
CBN, Kano Govt. seal Micro, Small and Medium Enterprises Dev. Fund deal •Sanusi decries low level of financial literacy

By News Express on 04/12/2013

Share on facebook Yahoo mail icon Gmail icon Share on Google+

Views: 3,872

History was made today in the ancient city of Kano as the Central Bank of Nigeria (CBN) and the Kano State Government (KNSG) signed a Micro, Small and Medium Enterprises Development Fund (MSMEDF) deal.

The MOU was signed at an impressive ceremony at the Government House under the watchful eyes of Governor Rabiu Musa Kwankwaso.

CBN Governor, Mallam Sanusi Lamido Sanusi, a Kano Prince, signed on behalf of the apex bank while the Commissioner for Budget & Planning, Yusuf Bello Danbatta, signed on behalf of KNSG.

In his remarks, Sanusi, dressed in his princely robes, praised the Kwankwaso administration for its giant strides, saying: “I must tell you I am always delighted to come to Kano because anytime I come I see something new in terms of developmental projects.” He spoke of CBN’s eagerness to partner with the administration to fast-track the development of the state using various vehicles, among them the N220 MSMEDF launched August 15 in Abuja, the Nigerian capital.

Meanwhile, the CBN Governor has decried the dismal level of financial literacy among Nigerians and called for concerted efforts aimed at developing necessary framework to educate the people on what he described as an important developmental issue.

The apex Bank Governor, while speaking yesterday at the Second North East Economic Summit in Gombe, noted that financial derivatives such as pension and insurance must be taken very seriously as part of economic empowerment strategy.

According to him, these financial derivatives should not be misconstrued as only designed for certain category of the populace; rather, they have a lot of potentials to serve as catalyst for savings and raising capital for economic development.

Sanusi also cautioned that inasmuch as finance remained key in resolving the developmental challenges, it was not the total solution. He reiterated that other issues like functional infrastructure, appropriate tariff regime, and reliable legal system must also be in place for businesses to thrive.

He concluded by calling on government at all levels to focus on the provision of those critical infrastructure which small businesses are unable to provide on their own.

Delivering the lead paper at the summit, Dr. Shamsudeen Usman, immediate past Minister of National Planning, called for a Marshal Plan of some sort for the development of North East region of the country in view of the enormity of the challenges confronting the zone.

The summit was declared open by President Goodluck Ebele Jonathan and attended by several ministers, legislators, members of the Diplomatic Corps, captains of industry, local and investors.

•Photo shows Gov Sanusi speaking at the signing of the MSME Dev Fund MOU with the Kano State Government . . . today in Kano.

Source News Express

Posted 05/12/2013 12:04:26 AM


Share on facebook Yahoo mail icon Gmail icon Share on Google+




You may also like...
German police raids Nigerian ‘husband’ smuggling ring, nabs...

Registrar stresses importance of science lab. technology •Institute...

Okorocha lists conditions for Igbo presidency

National Conference: Nigeria won’t break up —Uduaghan •South...

2015: Rivers royal fathers endorse Dakuku Peterside •It’s...

Dokubo descends on Governor Amaechi •Accuses him of...

APGA awaiting swearing-in of Otti as Abia Governor...

APC chieftain commends Fashola for N9.5bn rural electrification...

US-based Nigerian doctor removes wrong ovary from woman...

Police deploy counter-terrorism teams for Imo, Kogi rerun...

Senate confirms 2 ministerial nominees

Katsina Flood: 10 corpses recovered from collapsed building...


Latest News Udom Emmanuel emerges Overall Most Performing Governor in Nigeria 2019: Activists give South-East Governors, others ultimatum over alleged secret adoption of Buhari Soldier confirmed killed as troops repel Boko Haram attack 5,000 APC members defect to PDP in Ondo Buratai must account for money spent on Lafiya Dole, Crocodile Smile — Anti-corruption groups Stop discrimination against Igbo, Nwodo warns Nigeria 17 people killed in Niger road crash Nigeria, nine others spurn African Air Transport Agreement NAF, universities collaborate to combat insecurity Petrol tanker collides with tricycle in Yenagoa Ortom seeks prosecution of contractors for abandoning SUBEB projects Anambra will be crime-free during the Christmas/New Year period: Obiano


Most Read NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (430,864 views) Nigerian female sex addict opens up, says ‘I like it with both men and women’ (395,425 views) Shameless Genevieve Nnaji exposes breasts in public (328,285 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (282,600 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (248,324 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (229,479 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (212,439 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (193,650 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (180,139 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (170,737 views) Lagos plane crash: Journalist releases victims’ names (167,507 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (153,935 views)


CBN banner Zenith Zero Balance First Bank chat banking


Categories Advertorials (3) African Press Organisation (81) Art & Literature (76) Business & Economy (3,884) Business Verdict (54) Columnists (974) Complaints & Requests (95) Enterprise & Opportunities (208) Entertainment (575) Features (679) Global Business Monitor (313) International (2,836) Interview (167) Live Commentary (28) Love Matters (147) Maggie's Blog (74) News (41,494) Opinion (1,153) Pidgin (13) Politics (8,198) Religion (918) Sports (1,823) Stock Watch (35) AMA & Al Jazeera Global Update





APO Group Partner




GOCOP Accredited Member

GOCOP Accredited member



Africa Media Agency and Al Jazeera