FLASHBACK FRIDAY FINANCE
It's TGIF dear investors ❤️. Let's take a trip down memory lane and revisit some significant moments in Nigeria's financial and investment sector. Here are a couple of flashbacks:
1. Financial Sector Development and Economic Growth:
Nigeria's financial system has witnessed rapid development and systemic crises over the years. The introduction of economic reforms (such as the Structural Adjustment Program - SAP) in 1986 significantly impacted the financial landscape. Notably, inflation dropped from 73% per annum in 1995 to 6.8% by the end of 1999, improving the atmosphere within which financial institutions and markets operate. The financial sector continues to play a crucial role in Nigeria's economic growth, with sectors like financial services, information and communication, and utilities driving GDP growth.
3. Court Seizes Assets Linked to Former CBN Governor:
In more recent times, the Federal High Court in Lagos ordered an interim forfeiture of significant sums of money and several properties linked to the former governor of the Central Bank of Nigeria (CBN), Godwin Emefiele. The assets included $4,719,054 and N830,875,611. This legal action was taken following an ex-parte application by the Economic and Financial Crimes Commission (EFCC).
It's TGIF dear investors ❤️. Let's take a trip down memory lane and revisit some significant moments in Nigeria's financial and investment sector. Here are a couple of flashbacks:
1. Financial Sector Development and Economic Growth:
Nigeria's financial system has witnessed rapid development and systemic crises over the years. The introduction of economic reforms (such as the Structural Adjustment Program - SAP) in 1986 significantly impacted the financial landscape. Notably, inflation dropped from 73% per annum in 1995 to 6.8% by the end of 1999, improving the atmosphere within which financial institutions and markets operate. The financial sector continues to play a crucial role in Nigeria's economic growth, with sectors like financial services, information and communication, and utilities driving GDP growth.
3. Court Seizes Assets Linked to Former CBN Governor:
In more recent times, the Federal High Court in Lagos ordered an interim forfeiture of significant sums of money and several properties linked to the former governor of the Central Bank of Nigeria (CBN), Godwin Emefiele. The assets included $4,719,054 and N830,875,611. This legal action was taken following an ex-parte application by the Economic and Financial Crimes Commission (EFCC).