The Central Bank Of Nigeria, CBN, has stressed that it is determined to promote a sound and stable financial system as enshrined in the CBN Act The Director, Consumer Protection Department ,of the apex bank, Umma Aminu Dutse stated this yesterday at a press conference at the NUJ Press center Jos Represented by the Deputy director and Head of consumer Education , Mrs Khadija Kasim said following an in depth study of the financial system which was virtually on the brink of collapse showed that lack of Consumer sophistication amongst many other factors was responsible for the near collapse of the Financial system , In her words , ” following the discovery , the CBN introduced reforms to sanitize and stabilize the system in which customer Protection was included as cardinal component of the reform programme. “We are in Jos to sensitize the people of the state aimed at enhancing consumer financial capability through customer education , “The CBN is here to create more awareness and understanding of Financial Products and Services in order to enhance efficient usage of financial resources and empower Nigerians with the requisite knowledge to make choices and take effective actions that would enhance their financial well being We are determined to ensure a fair and responsible market and business conduct amongst financial service providers Our Goal is to Develop a consultation and feedback mechanisms to ensure the market is working well for consumers and also develop a grievance redress mechanism that is fair , transparent accessible, timely and inexpensive The awareness campaign according to the Deputy director is expected to run through the week at the hill station hotel.
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