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Nigeria’s economic recession can be traced to a number of global and domestic factors. They include slump in commodity prices, general slowdown in ec… - Sarah Alade
" "Nigeria’s economic recession can be traced to a number of global and domestic factors. They include slump in commodity prices, general slowdown in economic activity in developing countries, over dependency on oil, lack of diversification of the revenue base, consumption-led growth, militancy in the Niger-Delta region, insurgency in the North East and unutilized excess liquidity in the banking system.
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About Sarah Alade
Sarah Omotunde Alade is a Nigerian economist. She was acting governor of the Central Bank of Nigeria during the suspension of Sanusi Lamido Sanusi. She was appointed to the post by president Goodluck Jonathan on 20 February 2014. She held this position until the appointment of Godwin Emefiele in June 2014.
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Sarah Omotunde Alade
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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.
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