Sylva Promises To Collaborate With CBN

Governor Timipre Sylva of Bayelsa State has expressed his administration’s preparedness to collaborate with the Central Bank of Nigeria, CBN, towards the development of the state.

He made the remark when the management team of the state branch of the apex bank paid him a courtesy visit in Government House, Yenagoa.

Sylva expressed government’s willingness to donate land to the Central Bank to enhance its operations in addition to the development of infrastructure in the state.

The governor, who said he was delighted that the CBN has finally been established in Yenagoa, expressed regret over the long absence of the bank in the state.

“Bayelsa was created 14 years ago and as an autonomous state it is entitled to have a branch of the CBN and should not depend on another state for its cash operations,” Sylva stressed.

The governor noted that it was on account of this development that Bayelsa has not featured well in the category of states that have won the prize of best states in Micro Credit Finance, and other development areas.

On the Agricultural Development Fund recently floated by the CBN, the governor pointed out that government was taking advantage of the fund as it has got approval from one of the commercial banks.

Sylva promised to partner with the apex bank in Micro Finance Development as well as other areas that would contribute to the development of the state.

The state branch controller of the CBN, Prince Basil Udo-Utun, said the bank has been operating in the state for the past four months and within the period, some banks have been able to register with it.

While expressing hope that in the next one or two months, the CBN will be able to transact business with all the banks in the state, Udo-Utun urged Sylva to key into the products of the bank.

—Okafor Ofiebor/Port Harcourt