Nigeria: Our Finance System Needs To Be More Forward-Looking, By Yemi Osinbajo
Clearly, the future of money and finance, especially for traditional banking in Nigeria, must be as exciting as it is frightening.
Central Bank of Nigeria needs to be a more proactive regulator.
On the very topical issue of blockchain technology, digital assets, and cryptocurrencies, let me say two things. First is that there is no question that blockchain technology generally and cryptocurrencies, in particular, will in the coming years challenge traditional banking, including reserve banking, in ways that we cannot yet imagine.
I think it would be important to address the issue of growth from two perspectives. First is the immediate and pressing need to recover from the economic crisis caused by the COVID-19 pandemic. The other is to bring about increased and inclusive growth in the economy.
…VP calls for regulation of cryptocurrency
It is a pleasure to be with you this morning. I think the CBN, Bankers’ Committee, and the Vanguard Newspapers deserve praise for availing us all of this opportunity to share views on growth ideas and initiatives.
To start with, I think it would be important to address the issue of growth from two perspectives. First is the immediate and pressing need to recover from the economic crisis caused by the COVID-19 pandemic. The other is to bring about increased and inclusive growth in the economy.
It is of course, no longer news that the Nigerian economy has climbed out of its second recession in four years with the economy growing by 0.11% in the fourth quarter of 2020 after two successive quarters of negative growth. The growth rate of 0.11% though marginal is encouraging because it is a V-shaped recovery with a growth of 3.74 percentage points from the previous quarter. Indeed, although growth for the full year 2020 wa
By Rukayat Moisemhe and Florence Onuegbu
Lagos, Feb. 16, 2021 President Muhammadu Buhari on Tuesday pledged that the Federal Government would support massive investments in Lagos State to boost its economic potential as one of the world’s fastest growing megacities.
Buhari made the pledge in a virtual goodwill message during the Lagos Economic Summit (Ehingbeti) 2021 themed: ”For a Greater Lagos: Setting the Tone for the Next Decade”.
He said that his administration recognised Lagos as central to the economic fortunes of Nigeria and had in the last few years demonstrated commitment to supporting it to unleash its full socio-economic potential.
According to him, one of the significant ways in which the Federal Government’s support has manifested to Lagos State is in the special federal funding that was approved in 2020 in acknowledgement of the state being an epicentre of the coronavirus pandemic.
President Muhammadu Buhari has pledged that the Federal Government will support massive investments in Lagos State to boost its economic potential as one of the world’s fastest growing megacities. The president spoke in a video goodwill message to the Ehingbeti Lagos Economic Summit, themed ‘‘For a Greater Lagos: Setting the Tone for the Next Decade.’’ […]