So I want to encourage us that whatever we need to do, let us do it right. We must not subject this institution to that type of incident again. - 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 threat to CBN autonomy is also disturbing. Global best practice prescribes central banks’ independence to enhance policy coherence and sturdiness born out of freedom of vision and implementation space.

Monetary policy management has been made difficult by the uncertain global environment, arising from political and economic developments around the world. There has been an intense attack on free trade, multilateralism and globalization and the situation has not been helped by a growing preference for nationalist interest.