Threats posed to the financial service system informed the raising of a set of new and revised guidelines, regulations and legislations to address potential infringements
, alter private sector incentives and reorganize the market to promote competition and encourage new entrants, the Governor of the Central Bank…, alter private sector incentives and reorganize the market to promote competition and encourage new entrants, the Governor of the Central Bank of Nigeria , Godwin Emefiele has said.
He listed domestic and cross-border safety and security measures, digital identification, anti-money laundering standards, and cyber security as steps taken to strengthen operational resilience and ensure the safety of the financial system. He stressed that although considerable gains have been achieved in boosting financial inclusion in Nigeria, at 64.0 per cent, the inclusion rate slows down the digital transformation wheel, as all citizens must be carried along to optimize the gains of a digital economy.
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