x

E-Naira, BVN, TSA, NIN should give investors comfort – Buhari

President Muhammadu Buhari Tuesday in Riyadh, Saudi Arabia, said initiatives to drive the digital economy and fight corruption in the country should give investors “a lot of comforts”.

Among the initiatives mentioned by the president are e-Naira, Treasury Single Account, Bank Verification Number, and National Identification Number.

Speaking at the fifth Edition of Future Investment Initiative Summit holding in Riyadh, Saudi Arabia, Buhari said his regime will keep encouraging public and private initiatives that increase investments in health, education, capacity building, youth empowerment, gender equality, poverty eradication, climate change, and food security.

A statement from the presidency quoted the Nigerian leader urged more interest in infrastructure such as healthcare and education, which “present enormous opportunities for investors in a country our size.”

“Digital Economy in Nigeria has many potentials for investment, as it has remained the fastest growing sector in both 2020 and 2021. Nigeria has many opportunities for investment in broadband, ICT hardware, emerging technology and software engineering.

“We have recently approved the national policy on Fifth Generation (5G) network. Our aim is to attract investors in healthcare, smart cities, smart agriculture among others. The benefit of real time communication will support all other sectors of the economy,” he noted.

To further improve and reposition the economy to attract investors, the President said, “e-Naira, the electronic version of our national currency, which puts us on track to become the first African country to introduce a Central Bank Digital Currency” was launched on October 25th, 2021.

“We believe this and many other reforms, will help us increase the number of people participating in the banking sector, make for a more efficient financial sector and help us tackle illicit flow of funds.

“To further strengthen our anti-corruption drive, increase accountability and transparency, we have centralized government funds through a Treasury Single Account, and ensuring that all Nigerians with a bank account use a unique Bank Verification Number (BVN). These initiatives, coupled with our nationwide National Identification Number (NIN) exercise, reinforce our efforts to tackle corruption and fraud. We believe that this should give investors a lot of comforts.”

Buhari attributed growing social unrest to inequalities and unfair policies that exclude the majority from opportunities for participation, admonishing world leaders and global investors to prioritise inclusive and humane policies.

He said, “By so doing, it will go a long way in reenergizing the global economy in a post-COVID-19 era.

“Nigeria is Africa’s largest economy and most populous nation. Our economic reforms which focus on “humane” investments are ideal for investors looking to have profitable returns while positively impacting the citizenry.”

Hot this week

North Central Development Commission Pledges Transparency in ₦140bn Budget as NASS Reviews Estimates

By Israel Adamu, JosThe North Central Development Commission (NCDC)...

Group Presses Nasarawa Assembly for Speedy Passage of Climate Change Bill

y Leo Zwanke, LafiaThe Nasarawa State Network on Environment...

NNPC Foundation Boosts Economy with Agricultural Intervention, Say Kano Farmers

By Jabiru HassanFarmers in Kano State have commended the...

North-Central APC Forum Urges Tinubu, NASS to Reject Calls for State Police

By Israel Adamu, JosThe North-Central All Progressives Congress (APC)...

MMS Local Funding Lifting Pregnant Women, Adolescents Out of Anaemia – CS-SUNN

In this piece, our Assistant Editor, Joyce Remi-Babayeju writes...

Bishop Adegbite Names Fintiri as Most Pilgrim Friendly Governor

By Joyce Remi-BabayejuThe Executive Secretary of the Nigerian...

Clean Up Abuja: Wike Reiterates Commitment to Waste Management

By Joyce Remi-BabayejuThe FCT Minister, Barr. Nysome...

Good Road Network Attracting Investors to FCT – Wike

... Investors to Replicate Dubai City Walk in AbujaBy...

Emir of Zazzau Faces Two Defamation Suits Over Radio Interview

...Court to Hear Case November 4By Achadu Gabriel, KadunaThe...

Tinubu, Mutfwang, Akpabio, and Other Dignitaries Honour APC Chairman’s Mother at Jos Funeral

By Israel Adamu, JosPresident Bola Ahmed Tinubu, Plateau State...

How l became a consultant inside Kaduna Prison – Journalist Idibia

MY STORYBy Idibia GabrielIt is Interesting but hazardous to...

RCCG Pastor Urges Men to Embrace Physical Exercise for Greater Productivity

By Achadu Gabriel, KadunaThe Zonal Pastor of the Redeemed...

Related Articles

Popular Categories

spot_imgspot_img