The Governor of the Central Bank of Nigeria (CBN),Yemi Cardoso has announced an initiative aimed at boosting remittances and facilitating active participation in the country’s economy.
Speaking at a meeting with the Nigerian community in Washington D.C., Cardoso emphasized the importance of seamless transactions between Nigerians abroad and their home country.
The initiative, driven by the Nigerian Inter-Bank Settlement System (NIBBS), seeks to eliminate hurdles faced by Nigerians overseas when operating accounts or conducting business in their homeland. Cardoso stressed that it is “totally unacceptable” for Nigerians to encounter difficulties in these areas, underscoring the CBN’s commitment to addressing these challenges.
In a separate engagement with international investors, Cardoso outlined the current monetary policy reforms and highlighted the attractive economic environment in Nigeria. He urged investors to capitalize on the opportunities, emphasizing the potential for growth and development in the country.
This development comes as part of the CBN’s broader efforts to stabilize the economy, following recent challenges posed by global economic trends and domestic factors.
With a focus on price stability, exchange rate stability, and financial inclusion, the CBN aims to create an enabling environment for businesses and individuals to thrive.
