The best way to ensure the desired economic growth and low inflation is economic diversification with a broadening of the revenue base. Reducing the … - Sarah Alade

Financial illiteracy results in poor financial inclusion. Non-financial inclusion becomes a threat to the survival of the Nigerian financial sector as most adults and young Nigerians are financially excluded from the formal financial sector. A high percentage of adult Nigerians don’t have bank accounts, and this in the long run becomes a big headache for central banking.

The experience was humiliating for her and the entire management of the bank, said it was the first time that the bank would be investigated in its entire history.

Taking these factors together, the effect on the Nigerian economy has been the significant decline in the country’s foreign reserves, depreciation of the Naira and substantial increase in consumer prices. To reverse the trend and put the economy back on a path to economic recovery, significant effort is needed on the part of the Federal Government, especially harmonization of its fiscal and monetary policies to boost aggregate demand and investor confidence.