The Central Bank of Nigeria, CBN, will transfer N5.5 trillion for development activities to the Ministry of Finance, Development Finance Institutions (DFIs) amid its restructuring plan. According to a new report, this move aligns with the recommendations from the International Monetary Fund, IMF, on the need for the CBN to streamline its economic policies and focus on core central banking functions. “The CBN’s decision to phase out its development finance activities is welcome. These activities (5.5 trillion naira) will be transferred to development finance institutions, owned jointly by the M…