CBN banner advert

BREAKING: CBN sets up 24-hour financial hub for capital and investments

By Editor on 14th Sep 2021

Share on facebook Yahoo mail icon Gmail icon

Views: 224


Nigerian International Financial Centre (NIFC) a body that would act as an international gateway for capital and investments, would be fully operational in the country by turn of 2022, the Central Bank of Nigeria (CBN), said on Tuesday.

Godwin Emefiele, Governor of the apex bank, who revealed this plan at the opening of the 14th annual banking conference of the Chartered Institute of Bankers of Nigeria (CIBN), in Abuja, told participants that the centre would be driven by technology and payment system infrastructure.

Hear him: “Central Bank, will, in the next 12 months be establishing the Nigerian International Financial Centre (NIFC). The NIFC will act as an international gateway for Capital and investments, driven by technology and payment system infrastructure.”

Stressing that the body was designed to bring together local and foreign banks to create global champions, Emefiele, explained that the NIFC would be a 24-hour financial centre that would complement London, New York, and Singapore financial hubs, allowing Nigerian efforts like Infracorp Plc, a N15 trillion infrastructure fund that will be formed in October 2021, to accelerate.

The NIFC, he added would also complement other CBN efforts such as the Nigerian Commodity Exchange and the National Theatre’s creative hubs for Nigerian youths, as well as the e-Naira project, which will be launched in October 2021.

“The NIFC will take advantage of our existing laws such as the BOFIA 2020, NEPZA and other CBN regulations to create a fully global investment and financial hub where monies, ideas, and technology will move freely without hindrance,” he added.

 

 

Source Whirlwindnews.com.ng

Posted on September, 14 2021

Yahoo mail icon Gmail icon


You may also like...
BREAKING: Britain denied invitation at first EU meeting...

How Nigerian businessman duped Kuwaiti of $4.8million –...

Angry mother fights teachers at Queens College, as...

REVEALED! How NDLEA nabbed Uber driver, two drug...

Arrest of Wakili: Yes, we're detaining the OPC...

End of the road for three brothers, as...

CAF Confederation Cup: 'End of the road' as...

More punishment for three policemen who assaulted man,...

APC holds 'one million man' march in Lagos...
Latest News Nnamdi Kanu spent two months in Kenya before arrest — Report You’re a political beggar, PDP, Umahi, others knock Fani-Kayode BREAKING: Army storm bandits hideout, rescue NDA officer 25 days after abduction Again, rampaging police operatives, mow down two alleged IPOB members TRAGEDY: Wicked woman wipes out four stepchildren with poison-laced tea Fleeing bandits relocate to Katsina town, toll resident at roadblocks We won't pay Igboho N20billion - FG *Malami moves against judgement BREAKING: We won't return to work - doctors *Appeal NIC judgement Identities of terrorism financiers: Nigerians will know them soon – EFCC boss BREAKING: Court awards N20b damages against DSS for raid of Igboho’s house

 

Most Read BREAKING: Atiku defects to APGA *Picks ticket for 2019 presidency *Runs with Soludo (62,362 views) BREAKING: Ronaldo, Messi, Neymar clinch final Ballon d'Or shortlist, Suarez snubbed (40,098 views) You must release Kanu, give us justice or we keep bombing – Gen. Ben (29,275 views) Seven 'killer' SARS officers arrested in Anambra for murder (26,410 views) I must redeem Ndigbo or die trying – Nwodo *We're quite uncomfortable in Nigeria (24,405 views) BREAKING: Upset, as Ugwuanyi appoints Queen of 419 into cabinet (20,002 views) Okorie to Buhari: Your gvt can’t be killing Ndigbo and offering B’Haram amnesty (17,771 views) Biafra: I’ll lead negotiation with agitators – Okorie *Warns against force (17,492 views) Catholic bishops to Mbaka: Your prophesies could be brain wave (16,431 views) BREAKING: Again DSS shuns court order, hedges on Kanu's release (16,101 views)

 

CBN banner advert

Chelsea Outdoor

Veleta banner

FRSC Officials vs Woman Driver on highway

 

 

Newsletters Subscribe to Whirl Wind News newsletters today and get breaking news and updates delivered to your mailbox!

Sign up

 

 

News Appointments (513) Business (377) Crime (1633) Economy (757) Education (309) Entertainment (390) Fashion and Style (155) General (854) Health (1011) Inside Africa (645) Interviews (33) National (1812) Politics (3806) Press Releases (3) Religion (337) Security (2408) Sports (2748) Technology (37) World News (819)
Advertisement