Featured
Only about 5% of Nigerians have over N500k in their bank accounts — Finance minister, Wale Edun
The Finance Minister & Coordinating Minister of the Economy, Wale Edun says only about 5% of people in Nigeria have more than N500,000 in their bank accounts.
The minister disclosed this in an interview with Channels Television on February 23, 2024.
According to him, “There has been an effort to ensure that the people’s money is not in the hands of a few. And on that point, I must emphasize that when we talk about the last eight years before Mr. President came to power, there was this liquidity built up. The Issue was that the funds were going to a few.
Only about 5% of the population have bank accounts that have more than half a million in them. So, the majority was left out for eight years. They are on the sidelines while a small minority enjoyed.
That is the major correction being made by Mr. President now. That is the major microeconomic reforms that have put in place.
-
Latest4 days agoMakinde declares 2027 presidential bid under PDP–APM alliance
-
Business3 days agoNigeria: Whither the fruits of 2026 crude oil windfall?
-
Comments and Issues4 days agoPolitical Parties Primaries: Consensus or Coronation?
-
Business2 days agoTrump-Xi summit sparks fresh questions for Nigeria’s economy, tech sector
-
Featured4 days agoObasanjo faults Tinubu’s economic reforms, calls them necessary but poorly designed
-
Business5 days agoAnger, debate trail proposed $1.25bn loan amid concerns over Nigeria’s debt surge
-
Latest4 days agoWike says Makinde’s presidential ambition dead on arrival
-
Featured4 days agoWike dismisses political speculation over meeting with APC Chairman Yilwatda