Godwin Emefiele, Governor of the Central Bank of Nigeria, stated that the apex bank would establish an International Financial Centre at Eko Atlantic City for investors seeking to invest in critical sectors of the economy.
Emefiele made the announcement at the 56th Annual Bankers Dinner of the Chartered Institute of Bankers of Nigeria (CIBN) on Friday night in Lagos.
He noted that access to large pools of cheap investment capital is a key challenge to supporting growth in key sectors of our economy.
“Today, institutional investors in Organisation for Economic Co-operation and Development (OECD) countries hold over US$100 trillion, the majority of which is invested in low-yielding assets relative to high-yielding opportunities in Nigeria.”
“Working to tap into this pool of funds will necessitate the establishment of an investment framework that provides investors seeking to invest in critical sectors of our economy with comfort and security.”
“In this regard, the Central Bank of Nigeria is working to establish an International Financial Center at Eko Atlantic City in Lagos, which will serve as a hub for attracting domestic and external capital, both of which are required to strengthen our post-COVI economy.”
“When fully operational in the second quarter of 2022, the International Finance Center will help to position Nigeria as a key destination for investment in Africa,” Emefiele said.