Central Bank of Nigeria

14 days to go until the 2nd International Financial Inclusion Conference (IFIC) 2024! Join us on November 12-13 at the Landmark Event Centre as we explore the theme, Inclusive Growth: Harnessing Inclusion for Economic Development. Be part of this milestone event by registering today—it's free! Secure your spot by registering here: https://zurl.co/qKji

PRESS RELEASE: IFC and the Central Bank of Nigeria Partner to Boost Local Currency Financing in Nigeria... https://zurl.co/TKUK

The Central Bank of Nigeria (CBN) held its 297th Monetary Policy Committee (MPC) meeting on Monday, 23rd September, 2024 and Tuesday, 24th September, 2024. Kindly fill this survey to share your views about the decisions made at the meeting...https://lnkd.in/dy6cYjFv

Join us in Lagos for the 2nd International Financial Inclusion Conference (IFIC) 2024, themed "Inclusive Growth: Harnessing Inclusion for Economic Development." This event brings together global experts to explore innovative solutions for advancing financial inclusion. Secure your spot by registering here: https://lnkd.in/dqvzWYKY Registration is FREE.

At the 2024 IMF & World Bank Annual Meetings, the Central Bank of Nigeria and the Federal Ministry of Finance engaged key global and regional investors, sharing insights into Nigeria's economy, ongoing reforms, and the strategic initiatives shaping the nation’s future. The event provided an opportunity for open dialogue, allowing stakeholders to explore critical questions and propose actionable pathways and solutions for Nigeria’s growth trajectory. Key discussions focused on reinforcing macroeconomic stability, advancing market-friendly policies, and further unlocking opportunities for private sector growth. The CBN detailed its ongoing reform agenda, reaffirming its commitment to building an inclusive and resilient economy and attracting investments that align with Nigeria's development goals.

Mr. Philip Ikeazor, the CBN Deputy Governor for Financial System Stability, will moderate an engaging panel at the upcoming 2nd International Financial Inclusion Conference 2024, set for November 12-13 at the Landmark Event Centre, Lagos. #IFIC24

In a landmark event titled “Optimizing Remittances to Nigeria: A Vision for the Future”, the Central Bank of Nigeria (CBN) joined key industry leaders, IMTOs, investors and diaspora representatives in Houston to explore innovative pathways for enhancing remittance flows and promoting diaspora-led investments. The event, held in collaboration with NIBSS and Nigerian banks, emphasized the role of remittances in Nigeria's economic future. With annual remittance inflows averaging $20.5 billion, CBN seeks to transform these funds from short-term consumption to long-term investments in areas such as infrastructure, power, healthcare, agriculture, etc. Governor Olayemi Cardoso has identified the Nigerian diaspora as a vital force in this vision. This forum is among the first in a series aimed at strengthening engagement with Nigeria’s diaspora communities to unlock the full potential of remittances and harness their influence through collaboration with key stakeholders to drive sustainable economic growth.

This week, the CBN took a significant step in engaging Nigerians abroad through a high-level roundtable during the 2024 IMF and World Bank Annual Meetings. The roundtable focused on strengthening ties with the diaspora to drive economic development and financial inclusion through remittances and investments. It convened policymakers, business and thought leaders from the diaspora, Nigeria’s financial sector, International Money Transfer Operators, investors and others. During the discussions, the CBN emphasized its goal of transforming remittances inflows from short-term consumption to sustainable, long-term investments in sectors like infrastructure, power, healthcare, agriculture, etc. As part of the Bank's deepening engagement with the diaspora, the CBN, in collaboration with NIBSS, introduced the Non-Resident Bank Verification Number (NRBVN), set to launch in December. The NRBVN will enable Nigerians living abroad to complete Know Your Customer (KYC) processes remotely, aiming to simplify access to banking services while adhering to the highest global AML best practices.

At the 2024 IMF & World Bank Annual Meetings, the CBN held a series of impactful discussions to strengthen connections between Nigeria and key stakeholders, including Nigerians abroad and global investors. Through high-level forums like “Optimizing Remittances to Nigeria: A Vision for the Future” and “Strengthening Ties with Nigerians Abroad – CBN in an Era of Bold Reforms,” and in collaboration with the Nigeria Inter-Bank Settlement System (NIBSS) and Nigerian banks, the CBN has leveraged the Meetings to connect with key diaspora representatives, leaders from Nigeria’s financial sector, International Money Transfer Operators, investors and others to drive innovative solutions for sustainable economic growth. At the “Nigeria Investors Presentation,” hosted by the Federal Ministry of Finance and the CBN, and attended by key global and regional investors, the Bank highlighted its commitment to strengthening macroeconomic fundamentals and promoting a private-sector-friendly environment, underscoring its vision for an inclusive and resilient economy driven by ongoing reforms.

Join us for the International Financial Inclusion Conference with Chief Host, Governor Olayemi Cardoso. #IFIC24