**JUST IN** FG to Unlock to access N200bn cooperative fund trapped in CBN Over N200 billion meant for development of cooperative societies which has been trapped for 10 years at the Central Bank of Nigeria (CBN) will soon be put to other uses, the federal government has said. The fund will be used to assist people who are unemployed to be productive in establishing small and medium businesses at zonal, state and local government levels. The Special Adviser to the President on Ethics and Values, Mrs Sarah Jibril, disclosed this during the inauguration of the first batch of the National Youth Vanguards on Ethics and Values and public presentation of the code of conduct handbook. Both are initiatives of the Centre for the Promotion of Ethics and Values (CENPEV), a non- governmental organization. According to Jibril, government cannot be “talking to people and preaching ethics and values on empty pockets and empty stomachs” adding that, “government must be accountable to the citizens through economic empowerment.” She said: “the CBN has been holding the over N200 billion because we have not been organized and have not been able to take off. The CBN is however now happy that Nigerians are able to organize themselves for this exercise. In her remarks, the Executive Director of CENPEV, Mrs M. J. Sokomba, regretted that, “the continuous downward trend of morality due to breakdown of ethics and values, standards and accountability has been of great concern to many Nigerians.” The N200 billion Cooperative Societies fund trapped in the CBN is for economic activities. It will assist people to establish small and medium scale businesses. Tag, Feel FREE to SHARE This post ******************** Report any suspicious persons and object to the law enforcement agencies, as that will save lives.
Posted on: Fri, 07 Jun 2013 18:08:30 +0000
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