This 2014 Article IV Consultation highlights that inflation in Nigeria has remained in single digits for two years, and the banking sector, which has a strong capital base, is expanding credit. The trade surplus has been declining since the second quarter of 2013 on lower oil exports and continued strong growth of imports, and gross international reserves have been falling. The general government fiscal deficit and public debt have been kept low. The Executive Directors have commended authorities for progress in promoting Nigeriaas economic diversification and for their macroeconomic response to collapsing export prices.The Financial Services Regulation Coordination Committee (FSRCC) has developed a Framework for Consolidated ... CBN has issued guidelines (in 2014) to facilitate the regulation, supervision and operation of financial holding companies.
|Title||:||Nigeria: 2014 Article IV Consultation-Staff Report; Press Release; and Statement by the Executive Director for Nigeria|
|Author||:||International Monetary Fund. African Dept.|
|Publisher||:||International Monetary Fund - 2015-03-30|