Some people, the so-called “original sin” school, traces currency mismatches to a fundamental inability of emerging markets to borrow abroad in their own currency. They recommend that IFIs should assume an intermediate role as issuers. Other people have countered that this reasoning is based on a misperception as to how capital markets work.
The gates BMGF identified certain areas for collaboration with the CBN based on their assessment of Nigeria's needs with respect to Financial Inclusion as well as the capacity of their partners.