Achieving these targets will require the collaborative efforts of all the stakeholders in the financial industry, and with this in mind the Central Bank of Nigeria has approved a number initiatives centered around improving inclusion some of which include; The development of Agent Banking Guidelines, and tiered Know-Your-Customer (KYC) requirements to encourage Financial Institutions to reach out to under served segments, the development of a Consumer Protection Framework under a newly set up Consumer Protection Department and a National campaign to promote Financial Literacy.
Moreover, booms have been missed many times in the past. This should remind us that even new solutions may not always be bulletproof. CONCLUSION Allow me to conclude. Despite these challenges, the fears about the rise of Asia should not be exaggerated. Rotterdam’s Euromast may not be able to compete with Asian buildings, but its harbor is thriving thanks to trade with China.