Sanusi takes cash-less campaign to Kano Trade Fair

Posted by News Express | 5 December 2013 | 4,021 times

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Central Bank of Nigeria (CBN) Governor, Mr. Sanusi Lamido Sanusi, yesterday took the cash-less banking campaign to the people of Kano State when he attended the closing ceremony of the state’s 34th International Trade Fair.

Speaking at the event, Sanusi expressed happiness that Kano was fast recovering from the security challenge that confronted it. He therefore urged the people to continue to pray for peace in the country.

The CBN Governor, who spoke in Hausa, also urged the people to support the reforms being introduced by the apex bank as well as those by the Kano State Chamber of Commerce Mines and Agriculture (KACCIMA).

He admitted that some difficulties are associated with the reforms but pointed out that the benefits far outweigh any of the associated difficulties if they are fully embraced.

Citing examples of countries in other climes where transactions are done using cards, Sanusi said Nigerians, too, must avail themselves of the opportunities introduced by the CBN to do their transactions using their cards. He noted that Point-Of-Sale (PoS) machines are easy to operate.

“PoS can be used by everybody who can read their names. The rest is taken care of by one’s finger prints, he added. That is all it takes,” Sanusi assured the cheering audience.

The CBN Gvernor allayed the fears of the people on using PoS, saying that the objective of the cash-less policy was to help people secure their savings as well their financial transactions. He disclosed that successes are being recorded in Lagos where the policy was fist launched. Sanusi stressed that in one day alone, PoS transactions in Lagos was to the tune of N3 billion, while there are about 150,000 PoS machines in the state.

He also urged the people to take the opportunity of the mobile banking as well as the agent banking, both alternatives introduced by the CBN.

Earlier, Sanusi went round the pavilions, beginning with the CBN’s own pavilion, where he sought to know about the functionality of the some of the machines on display. He later moved to the Nigerian Ports Authority (NPA) pavilion and rounded-off with Dangote’s.

Sansui was accompanied to the closing ceremony by his uncle, the Wambai of Kano, and Secretary to the Kano Emirate, Alhaji Abbas Sanusi, as well as other members of the Emirate Council, and KACCIMA and CBN staff.  

Also yesterday in Kano, the CBN Governor led a team strong delegation from the Bank to the Kano State Government House for the signing of a Memorandum of Understanding (MoU) on the Micro, Small and Medium Enterprises Development Fund (MSMEDF), thus making the State the first to benefit from the N220 billion MSMSE Fund launched in August.

Sanusi disclosed that Kano is the first to express interest to access the fund which, according to him, was created to fill the gap created by the microfinance, which he said proved to be more expensive for the common man. He explained that the Bank, in its bid to carry those at the grassroots along, amended the guidelines of the MSMDF to accommodate state governments in recognition of their strategic role in grassroots economic development. He added that a state can only access a maximum of N2bn, which can be lent to their PFIs through the correspondent banks.

•Photo shows Sanusi signing the MSME Development Fund MoU with the Kano State Government. To his right is Gov Rabiu Musa Kwankwaso.

Source: News Express

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