The Governor of Central Bank of Nigeria (CBN), Mallam Sanusi Lamido Sanusi has said Nigeria is ready to cooperate with Germany to strengthen its financial system.
CBN’s Head, Corporate Communication, Mr. Mohammed Abdullahi in a statement said that Sanusi disclosed this yesterday in Abuja when the CBN signed a Memorandum of Understanding (MoU) with the German Development Agency (GIZ) for cooperation and partnership on the Financial System Strategy 2020 (FSS 2020).
According to the CBN governor, the essence of the cooperation is to ensure that institutions in the financial system do not constitute instability in the system. He noted that the occasion presents greater opportunities for much work to be done and advised that the cooperation should clearly spell out deliverables, measurement targets and actual matrix to know where we are and where we are going. He mandated the FSS2020 Project to produce measureable targets and milestones to enable us assess the progress being made.
In the cooperation agreement, the GIZ will assist in developing a toolkit for financial sector reforms using the FSS 2020 model as well as providing technical assistance and guidance to the FSS 2020 Secretariat.