NSE advises CBN to allow telecom firms take deposits

The President, Nigerian Stock Exchange, Mr. Aigboje Aig-Imoukhuede, says the Central Bank of Nigeria needs to allow telecommunications companies to hold deposit-taking licences in order to boost the payment space.He also said the country needed to use technology to solve most of its problems.

“We should not be scared of giving one or two telcos deposit-taking licences,” he said.

The former Group Managing Director of Access Bank Plc said innovation had changed the face of banking in Nigeria, adding that technology was important to the modern world.

The Group Managing Director, Access Bank Plc, Mr. Herbert Wigwe, said the question about leadership and innovation had become more pertinent in the country than ever before.

He, however, said that despite the economic challenges across the world, there were more significant opportunities in Africa, especially Nigeria.

Other panelists were the Co-founder, Yudala Nigeria, Nnamdi Okei; a professor Economics at the University of Sussex, Mariana Mazzucato; Founder, Infosys Technologies, India, Narayana Murthy; and the Head of Industry and Retail, Google Inc, USA, Ted Sounder

They advised that to increase innovation in the county, universities should focus on broad education of students.They spoke on the essential attributes of innovation.

They revealed the strategies, organisational and behavioural factors that separate successful innovators from the rest and challenged the government to give tax incentives to young entrepreneurs, especially in the area of research and development.

ThePunch