*CBN governor reveals NIBSS to launch BVN platform for diasporans by December *2024 budget performance put at N12.6tn Obinna Chima, Eromosele Abiodun and Nume Ekeghe in Washington DC Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, and Governor of Central Bank of Nigeria (CBN), Mr.
Olayemi Cardoso, yesterday, told foreign investors that with reforms initiated by the federal government, confidence had been gradually restored in the Nigerian economy. Similarly, yesterday, Cardoso disclosed that the Nigerian Inter-Bank Settlement System (NIBSS) would by December launch a Bank Verification Number (BVN) platform for Nigerians in the diaspora. Besides, International Monetary Fund (IMF) advised Nigeria and other African countries to work towards making their tax systems more efficient, equitable, and progressive.
Cardoso and Edun spoke during an interactive session with groups of foreign investors at the ongoing IMF/World Bank Annual Meetings holding in Washington DC. The CBN governor told his audience, who were mostly asset managers, investment bankers and investors from JP Morgan, Standard Chartered, among other global financial institutions, “Confidence has returned to the market and there is also confidence by Nigerians in their currency. “Clearly, a situation where interest rate has gone up, we expect that there would be more interest in local currency instruments.
“Something else that is important in these whole adjustments in the Nigerian eco.
