The value of electronic payment rose by 150 percent in two years to N35 trillion in 2014, reflecting the impact of the cashless policy.

We need to begin to look at the structure of our economy and tell ourselves that as we stopped importation of cement and today we are exporting cement, we can do the same and encourage those who are ready to produce to support the economy and help conserve our reserves and ultimately keep our exchange rate strong.

Finance Minister and Coordinating Minister of the Economy, Dr Ngozi Okojo- Iweala has said that the country’s economy has to a greater extent experienced development in other sectors of the economy.

The insurance industry in Nigeria is working hard to take its rightful place in the economy; as a result, all efforts are geared towards making the industry contribute meaningfully to the Gross Domestic Product (GDP) of the country. Nigeria’s gross premium per capita of $8.9 is low when compared to $1,072, $29.9 and $49.3 for South Africa, Kenya and Ghana, respectively. Insurance penetration as a percentage of GDP is 0.43 per cent; and only an estimated 6 per cent of the population has any form of insurance.

Nigeria Deposit Insurance Corporation (NDIC) has liquidated 21 Primary Mortgage Banks (PMBs), following the revocation of their operating licences by the Central Bank of Nigeria (CBN).