CBN, others to invest N1.54trn in FG’s National Development Plan

The Central Bank of Nigeria (CBN) and others particularly the financial services regulators, would invest N1.54 trillion over five years to increase liquidity in the financial services sector.

The government intends to boost the liquidity thresholds in each segment of the financial system to levels that will sustain the country’s growth and development, according to the Federal Government’s National Development Plan 2021-2025.

The investment is also expected to optimize all aspects of the country’s balance sheet to free up the liquidity needed to support the economy’s stability, growth, and transformation.

According to the document, the Ministry of Finance, Budget, and National Planning, the Ministry of Industry, Trade, and Investment, the Infrastructure Concession Regulatory Commission, the Central Bank of Nigeria, the Securities and Exchange Commission, the National Insurance Commission, the National Pension Commission, and others have been tasked with increasing the amount to raise the financial sector’s liquidity thresholds over the next five years.

Investments from these government institutions will be used to organize and support the private sector to achieve the NDP’s aims.

Private operators in the financial industry, including banks, insurance companies, exchanges, and others, will be coordinated to invest and achieve their goals, according to the NDP.

-VON