BUK centre to serve as advisor to financial sector – Shettima

Nigeria’s Vice President, Kashim Shettima, has said that the newly commissioned Centre of Excellence in Bayero University Kano (BUK) will do well towards advising Nigeria and Africa on the best financing choices and the most sustainable options for the financial sector at large.

Shettima made this known at the commissioning ceremony of the Centre of Excellence complex on Monday built by the Central Bank of Nigeria (CBN).

Represented by the Special Adviser to the President on Economic Affairs in the Office of the Vice President, Dr Tope Fasua, the VP said the activation of the magnificent Centre of Excellence would add considerable value to the already established status of Kano State through the research work that would take place as the horizon of commerce, banking, finance and trade would be expanded.

He said financial technology companies, otherwise called FINTECHs, had redefined the space in Nigeria in terms of payment systems, savings mobilisation, nano and microfinancing and transactional banking.

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On the global scene, Islamic Finance has hit a threshold of $2trn with prospects to attain $10trn and become a dominant force in infrastructure financing in a short time, even as financing from China has receded due to slow economic growth.

Shettima added that legacies like the centre would remain as evidence to the turbulent eras while urging the CBN to continue to perform its Corporate Social Responsibility (CBN) within legal limits and express its innovativeness because society needed them.

Earlier, the Vice Chancellor (VC) of BUK, Professor Sagir Adamu Abbas, commended the central bank for citing the edifice in BUK, while assuring of making judicious use of the facility.