BREAKING: CBN To Establish Nigeria International Financial Center

The centre will be driven by technology and payment system infrastructure, CBN Governor Godwin Emefiele disclosed this on Tuesday morning at the ongoing 14th annual banking and finance conference organised by the Chartered Institute of Bankers of Nigeria in Abuja.

“Central Bank, will, in the next 12 months be establishing The Nigerian International Financial Centre . The NIFC will act as an international gateway for Capital and investments, driven by technology and payment system infrastructure,” the CBN governor said.The new financial hub, he said, will curate local and international banks to make them global champions.

According to Emefiele, the NIFC will be a 24/7 financial centre that will complement London, New York and Singapore financial centers and enable an acceleration of Nigeria’s home grown initiatives such as the Infracorp plc, the N15 trillion infrastructure fund which we will be launched in October 2021.

He said the NIFC will also complement other CBN initiatives on the Nigerian Commodity Exchange and the National Theatre creative hubs for Nigerian youths as well as the e-Naira project which he said will also debut 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,” Emefiele said.

Nigeria Latest News, Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Minister decries CBN non-support for solid minerals sector | The Guardian Nigeria News - Nigeria and World NewsThe Minister of State for Mines and Steel Development, Dr Uche Ogah, has decried the absence of support from the Central Bank of Nigeria (CBN) for the development of mines and solid mineral sector.
Source: GuardianNigeria - 🏆 1. / 94 Read more »

Desist from forex malpractices, CBN warns commercial banks - Punch NewspapersThe most widely read newspaper in Nigeria Why is the Culture of Sex-for-Grade popular on Nigerian Campuses?: Keep creating poor mindset This is what you get when you deliberately created scarcity by bad and obnoxious policies. The banks have gotten what they wanted, the government needs to wake up before 1$ will be exchanged for N1,000 in couple of weeks from now.
Source: MobilePunch - 🏆 8. / 63 Read more »

CBN, NSIA To Lead Discussions On Infrastructure, SME FinancingThe Central Bank of Nigeria (CBN) and the Nigeria Sovereign Investment Authority (NSIA) are set to lead discussions on infrastructure as well as small and
Source: LeadershipNGA - 🏆 4. / 77 Read more »

CBN, NSIA To Lead Discussions On Infrastructure, SME FinancingThe Central Bank of Nigeria (CBN) and the Nigeria Sovereign Investment Authority (NSIA) are set to lead discussions on infrastructure as well as small and
Source: LeadershipNGA - 🏆 4. / 77 Read more »

Heifer International appoints Rufus Idris as Nigeria's Country DirectorHeifer International has announced the appointment of Rufus Idris as the new Country Director for its Nigeria operations. Idris who assumed duties in June
Source: DailyPostNGR - 🏆 11. / 59 Read more »

Minister decries CBN non-support for solid minerals sector | The Guardian Nigeria News - Nigeria and World NewsThe Minister of State for Mines and Steel Development, Dr Uche Ogah, has decried the absence of support from the Central Bank of Nigeria (CBN) for the development of mines and solid mineral sector.
Source: GuardianNigeria - 🏆 1. / 94 Read more »