Pass Financial System Strategy Bill, CIBN begs NASS

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WorldStage Newsonline— The National Assembly has been advised by the Chartered Institute of Bankers of Nigeria (CIBN) to pass the Financial System Strategy (FSS) Bill into law so as to promote financial inclusion and strengthen electronic payment system in the country.

CIBN President, Prof. Segun Ajibola disclosed this in a statement in Abuja during a visit to the Senate President, Dr Bukola Saraki.

Ajibola also urged the National Assembly to pass other bills pending before it like the Nigeria International Financial Centre Bill, Financial Consumer Protection Bill and the Electronic Payment System Bill.

He said that the bills were critical to the year 2020 targeted at products innovation and creation of enabling environment for financial institutions in effective, efficient and sustainable manner. The CIBN boss commended the Senate for passing the Collateral Securities Bill into law.

“The passage of 15 other major economic bills into law and review of over 50 existing extant laws shows the exemplary leadership of the Senate President.

“The Collateral Registry Bill has provided an enhanced environment for Micro, Small and Medium Enterprises (SMMEs) to access credit,” Ajibola said.

He said that the institute would soon approach the National Assembly to amend its extant law, Act No. 5 of 2007, to further strengthen it’s capacity to deliver its statutory mandate.

Responding, the Senate President said the Senate, under his leadership, had passed several bills geared towards strengthening the financial sector for the overall growth of the economy.

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