President Muhammadu Buhari says the treasury single account
(TSA), bank verification number (BVN), and national identification number (NIN)
initiatives have reinforced his administration’s efforts in tackling
corruption.
Buhari said this on Tuesday while speaking at the Future
Investment Initiative Summit in Riyadh, Saudi Arabia.
The president’s speech was titled ‘Investing in Humanity:
The Nigerian Perspective’.
Speaking on his administration’s anti-corruption drive,
Buhari said the TSA, BVN, and NIN, among other reforms, will give comfort to
investors.
The president said the newly-launched eNaira will help
tackle the illicit flow of funds, adding that the digital currency will
increase participation in the banking sector.
“Yesterday, I launched the eNaira, the electronic version of
our national currency, which puts us on track to become the first African
country to introduce a central bank digital currency,” the president said.
“We believe this and many other reforms, will help us
increase the number of people participating in the banking sector, make for a
more efficient financial sector and help us tackle illicit flow of funds.
“To further
strengthen our anti-corruption drive, increase accountability and transparency,
we have centralised government funds through a treasury single account, and
ensuring that all Nigerians with a bank account use a unique Bank Verification
Number (BVN).
“These initiatives, coupled with our nationwide national
identification number (NIN) exercise, reinforce our efforts to tackle
corruption and fraud. We believe that this should give investors a lot of
comfort.”
‘COVID HAS DEEPENED
DEBT PROFILE OF POOR COUNTRIES’
The president said the COVID-19 pandemic has deepened the
debt profile of poor countries, adding that poor countries now allocate more
resources to service external debts at the expense of basic amenities.
The president argued that nations cannot invest in humanity
without relieving poor countries of their debt burden.
“We cannot invest in humanity without relieving our
countries from the crushing effects of the debt burden especially when the
COVID-19 pandemic has increased the risk of deepening the debt portfolio of
poor countries,” he added.
“These nations increasingly allocate more and more resources
towards external debt servicing and repayment at the expense of the health,
education and other services that contribute to the overall well-being of their
population.”
According to the Debt Management Office (DMO), Nigeria’s
public debt rose to N35.455 trillion at the end of June 2021.
Advertise on NigerianEye.com to reach thousands of our daily users
No comments
Post a Comment
Kindly drop a comment below.
(Comments are moderated. Clean comments will be approved immediately)
Advert Enquires - Reach out to us at NigerianEye@gmail.com