The Central Bank of Nigeria (CBN) in its effort to include all strata of the population in the financial sector has said that promotion of Microfinance is a vital strategy. This strategy of financial inclusion or inclusive financing according to Wikipedia, 2011 is the delivery of financial services at affordable costs to sections of disadvantaged and segments of low income of the society.

The Central Bank of Nigeria (CBN) has concluded the initiative to implement the electronic payment of government suppliers, all forms of taxes, salaries and pension in Nigeria.

When Mr. Sanusi Lamido, governor Central Bank of Nigeria (CBN)  said Nigerians has seen the worst in the banking sector, and that with the nationalization of the three rescued banks unable to get suitors to recapitalize has marked the begin of new  and prosperous era in the sector.
Even though many see the nationalization of former Afribank, Bank PHB and Spring Bank as very unpopular, but Sanusi insists that the option was indeed the best considering the circumstance we found our economy.

The Federal government has secured about N2.2tn investment communication from foreign and local investors for the non-oil sector of the economy in the next 12 months.

International Finance Corporation (IFC), a member of the World Bank Group, last week announced an investment of $10.5million in Interswitch Limited to help consumers at all levels gain improved, low-cost access to financial services.

At FirstBank we believe in continuous implementation of strategies that will enable us sustain our number one position in the industry and we have consistently achieved this over the past 117 years. In fact, after a century of landmark operations, the Bank flagged off the “Century II” business transformation project in 1996. The goal was to reposition the brand to align with constantly changing features of the Marketplace.

Mr. Omar Suleiman, managing director,Nigeria Ports Authority(NPA), has emphasized the important role the NPA is playing in the development process of the nation, saying that any economic policy in the Country which does not take appropriate congnisance of its vital role is incomplete.

IN what could be described as another promise, the federal government in its usual manner recently announced that it will soon float a Microfinance Development Fund (MDF). Microfinance banks, according to the government, would be eligible to access it. This announcement follows a series of promises by government in the past, to extend funds to microfinance houses in the country. Before now, the federal government promised in 2005 that one per cent of annual capital budget going to state and local governments will be voted to microfinance schemes in respective states, but up till now, the scheme still remains a dream.