This study begins by considering thebanking sector and then moves on to issues relating toimproving access to finance to support Nigeria'seconomic growth vision. The second part of the study refersto issues relating to longer-term finance: both the sourcesof financing, such as pensions and insurance, and their usesin providing financing for resolving Nigeria's crucialinfrastructure shortfalls in infrastructure and housing. Thefinal part of the study returns to the fundamental'plumbing' of the financial system focusing on thelegal and regulatory foundation for creditor rights andcorporate insolvency, instituting sound corporate governancestandards for corporations and banks, and providing secureand low cost transmittal of payments and remittances. Whileit is difficult to identify a common theme running throughthis volume without compromising the diversity and nuance ofthe recommendations, the overarching theme supported by thisvolume is the importance of exchange of reliable informationas the basis for financial transactions between unconnectedthird parties. Implementation of systems designed tostrengthen accounting and reporting standards for banks andcorporations, the registration of movable and immovableproperty, property liens and credit histories as well asexchange of information about prices, interest rates, feesand charges for financials services will considerablyenhance the functionality of financial systems and provecrucial in establishing a trusted and robust market-basedfinancial system in support of stable economic growth anddevelopment in Nigeria.
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