The Central Bank of Nigeria (CBN) has restated its dedication to encouraging young entrepreneurs to acquire new skills and establish small businesses that would contribute to the country’s economy. Dr Isa Abdulmumin, the Director of the Corporate Communications Department of the CBN, made this statement during the CBN fair held in Bauchi on Friday.
Abdulmumini urged unemployed youth with promising business ideas to seize the opportunities provided by the CBN Agric Small and Medium Enterprises Investment Scheme. This scheme allows them to access funds without requiring collateral in order to pursue their dreams and ambitions.
He emphasized that young people face significant challenges in finding employment and establishing new businesses, which are crucial for economic growth. The director reaffirmed the apex bank’s commitment to promoting business diversification through various interventions in different sectors of the economy, such as agriculture, healthcare, manufacturing, and others.
Furthermore, he assured that the CBN would continue to fulfil its primary mandate of ensuring monetary and price stability, while also supporting businesses and driving diversification efforts.
Abdulmumini said: “It is instructive to state that the bank shall also continually roll out proactive and innovative policies which would ensure that all economic sub-sectors receive the desired support.
“The fair is also designed as a platform to interact with members of the public on the policies and strategic interventions of the Central Bank of Nigeria for a sustainable economic development in Nigeria.”