Chidi Nkwopara
16 February 2008
Owerri — The Governor, Central Bank of Nigeria (CBN), Professor Chukwuma Charles Soludo, has lamented that the poverty level in Nigeria is not only getting to a crisis point but also becoming dynastic.
The CBN boss made the lamentation while delivering the 20th Convocation Lecture titled "Making Finance Work for the Poor", in the Hall of Mercy, Federal University of Technology, Owerri.
"Poverty is becoming dynastic. The poor cannot sleep because they are hungry, and the rich cannot sleep because the poor is awake. It would be in everybody's interest to have an inclusive society", Professor Soludo prescribed.
Quoting the 2004 surveys, the CBN governor said that 54 percent of Nigerians still live in poverty, although down from about 70 percent less than a decade ago, in spite of significant growth in the Gross Domestic Product (GDP) over the past five years.
"Nigeria has a highly unequal income distribution profile. About eight percent of those that have access to financial services own about 90 percent of the available deposits in banks", Soludo said.
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Any wonder? Well, high walls and electric fence still dey.
But what does it profit a man...................., but can not sleep koole in his own country?