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Friday, March 24, 2023

CBN Advocates Establishment of Cash Centers in Benue Councils

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The Controller of Central Bank of Nigeria (CBN) Makurdi Branch, Mr. John Odekina, has advocated for the establishment of Cash Centers in Guma, Gwer West, Logo and Tarka local government area councils in Benue state so as to accelerate financial transactions and reduce the risk of people carrying cash to long distances for deposit.

The Controller who made the advocacy when he led other management staff of the Bank on a courtesy call on Governor Samuel Ortom in Makurdi, pointed out that the non existence of financial institution in the affected councils have kept many people away from the financial sector due to the distance involved in travelling to where such services are provided.

He appealed to the Governor to allocate a piece of land to carter for the housing needs of it staff, promising of CBN’s contribution to the housing development drive of the state.

Governor Samuel Ortom in his response, noted that Benue state has the capacity to carryout all year round farming activities with the presence of rivers Benue and Katsina – Ala, urging the business community in the state to take advantage of CBN’s credit facility to invest in agriculture and other businesses.

In a related development, Governor Samuel Ortom has inaugurated the reconstituted Benue State Council on Privatisation and Commercialisation of Enterprises; saying there was no economic justification for the state government to keep wasting scarce resources in maintaining moribund enterprises with obsolete machineries.

He stated that if privatised, the annual budgetary allocations to such enterprises would be utilized in running other developmental needs of the State.

According to the Governor, if the enterprises and establishments are privatised to capable investors, their operations would become more efficient and effective which would in turn create weath, generate employment and stimulate economic growth of the state.

He charged members of the council to discharge their responsibilities in accordance with the Privatisation Law of the State 2010 in order to achieve the desired result.

“While the machinery and equipment of these industries have not been put to use and have become obsolete, the economic value of these assets keep depreciating annually. As a result, there is no justification for the State Government to keep wasting her scarce resources in maintaining these enterprises”.

Responding, the chairman of the Council, Mr Christopher Abah pledged commitment of members to their duties for the interest of the State.

Other members of the council include, Attorney General and Commissioner for Justice, Barr. Michael Gusa; Commissioner for Commerce and Industries, Barr. Merga Kachina, the Managing Director of Benue Investment an Property Company Limited, Barr. Alex Adum, Chairman of Nigeria Labour Congress, Comrade Godwin Anya, Amanda ‘Lumun Feese, Iyornumbe Ime and Annune Fidelis as member/Secretary.

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