The Central Bank of Nigeria (CBN) has created opportunities for micro, small and medium enterprises (MSMEs) to thrive in a competitive environment by providing access to credit facilities, intervention funds, forex management and financial inclusion strategies, the Abuja Chamber of Commerce and Industry (ACCI) has said.
The Director General of the ACCI, Agabaidu Jideani, made the statement during the CBN’s special day at the 20th Abuja International Trade Fair (AITF) held in Abuja.
Jideani declared that the CBN’s role in stabilising inflation and ensuring confidence in the financial system remains essential to business sustainability and competitiveness.
The ACCI chief noted that the CBN day at the Fair was timely, saying it underscores the nexus between monetary policy, financial system stability and the growth of Nigeria’s private sector. He said for the business community represented by ACCI, the CBN is not just a regulator but a vital enabler of growth.
“Through access to credit facilities, intervention funds, forex management and financial inclusion strategies, the CBN has opened opportunities for our members, particularly MSMEs, to thrive in a competitive environment. Its role in stabilising inflation and ensuring confidence in the financial system remains essential to business sustainability and competitiveness,” he said.
While acknowledging the CBN’s ongoing reforms and programmes that directly benefit the business community, Jideani explained that the rollout of the Open Banking Framework, expansion of contactless payments, regulatory sandbox for fintech innovation and continued support for MSMEs are crucial milestones.
He maintained that the initiatives have provided businesses with easier access to finance, safer payment channels, improved forex transparency and innovative financial solutions that address the peculiarities of the Nigerian economy.
He also lauded the CBN’s commitment to youth empowerment, capacity building and targeted sectoral interventions in agriculture, housing, healthcare and education, adding: “These efforts not only reduce barriers to doing business but also de-risk critical sectors for private investment, creating a more inclusive and resilient economy. The business community values these deliberate steps toward fostering an environment where enterprises, both large and small, can innovate, expand, and contribute to national development.
“As we celebrate this special day, we call for sustained collaboration between the CBN and the organised private sector. The Abuja Chamber of Commerce and Industry stand ready to partner with the Bank in policy advocacy, financial literacy, and sectoral linkages that will accelerate inclusive growth.”
The Acting Director, Corporate Communications Department, the CBN, Hakama Sidi Ali, said the theme of the fair, ‘Sustainability: Consumption, Incentives and Taxation’, aligns with the CBN’s continued push for diversifying Nigeria’s productive base, especially on boosting the export of non-oil commodities.
She disclosed that the CBN participates in fair to raise awareness and sensitise its numerous stakeholders about its policies and programmes, which are essential for boosting economic activities, inclusiveness, and achieving global recognition.
She reiterated the commitment of the CBN governor, Yemi Cardoso, to addressing identified challenges in the Nigerian economy with a view to boosting productivity and strengthening the local economy against adverse external shocks.
