Nigeria launching ’24/7 financial centre’ to complement New York, London — Emefiele

The Central Bank of Nigeria will set up an international financial centre in the next 12 months, the governor of the bank, Godwin Emefiele, has announced.

The Nigerian International Financial Centre (NIFC), will act as an international gateway for capital and investment, driven by a technology payment system infrastructure. It will enable local banks to become global champions, Mr Emefiele said.

He said this at a 14th Annual hybrid banking and finance conference organised by the Chartered Institute of Bankers of Nigeria (CIBN) under the theme: “Economic Recovery, Inclusion and Transformation: The Role of Banking and Finance.”

“The NIFC will be a 24/7 financial centre that will complement London, New York and Singapore financial centres and enable acceleration of our homegrown initiatives such as the infraco Plc, the N15 trillion infrastructural fund, which we hope will be launched in Oct. 2021,” he said.

“The NIFC will also complement our initiatives on the Nigeria Commodity Exchange and the National Arts Theatre creative hub for our youths, as well as our e-naira project, which is also expected to debut in Oct. 2021.

Similarly, ”the NIFC will take…

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