Group lauds CBN over reduced charges, anchor borrowers’ scheme

Magnus Eze, Enugu

The Zikist-Buharist Movement (ZBM) South East has applauded the Governor of Central Bank of Nigeria (CBN), Godwin Emefiele, for the decision to reduce bank charges for customers.

ZBM also praised the CBN boss for the various anchor borrowers’ schemes in the agricultural sector, revival of palm oil and textile and other  interventionist programmes designed to diversify the economy. Some of the bank charges got more than 50 per cent cut in the new CBN policy which takes effect from January.

Secretary of ZBM, Godwin Onwusi, described the new policy as timely and in line with the vision of President Muhammadu Buhari to lift millions of Nigerians out of poverty.

He said the policy has relieved Nigerians of the burden of obnoxious and suffocating charges by commercial banks, adding that it would leverage cashless policy, further improve ease of doing business and create more favourable investment climate in the country.

“Zikist-Buharist-Movement (ZBM) hails the decision of the CBN to reduce  banks and other financial institutions obnoxious charges. It will no doubt induce financial inclusion and encourage cashless society. ZBM commends the CBN  for protecting Nigerian masses from the one per cent class who unconscionably enjoy multiplicity of charges without investing commensurately in our economy. We are at a loss why the one per cent class is only interested in posting billions of profit from obnoxious charges and prohibitive interest rates when they are aware that 61 per cent of electronic transfers is from micropayment of N10,000 and below, representing the broad masses of our dear country.”