CBN courts NBA on developing FSS 2020 legal framework

Godwin Emefiele

For continued stability of the financial system, the Governor of the Central Bank of Nigeria (CBN), Mr. Godwin Emefiele, has solicited the support of the Nigerian Bar Association (NBA) in developing a market friendly legal framework for the nation’s financial sector by 2020.

Emefiele, who made the call Tuesday in Lagos during his keynote lecture at the annual general conference of the NBA, urged the association to be ready and willing to partner the CBN in the legislative advocacy to ensure quick promulgation of robust legislations in support of the chosen policy options as the Financial Services Regulation Coordinating Committee (FSRCC), led by the CBN, is putting together a robust framework that will adequately promote stability of Nigeria’s financial system.

His words: “In order to achieve stability of the financial system in Nigeria, the CBN is leading other stakeholders through the Financial System Strategy 2020 (FSS 2020) to develop a robust, globally competitive and market friendly legal framework for Nigeria’s financial sector by 2020,” he said.