Finance Minister, Wale Edun Reveals: Only 5% Of Nigerians Have Over N500,000 In Bank Accounts

In a recent interview with Channels Television on Friday, February 23, 2024, Wale Edun, the Finance Minister and Coordinating Minister of the Economy, shed light on the financial landscape of Nigeria, revealing that only a small fraction of the population possesses substantial savings in their bank accounts.

Edun emphasized the importance of ensuring equitable distribution of wealth, highlighting concerns regarding the concentration of funds in the hands of a privileged few. He pointed out that prior to the current administration, a significant portion of the population was sidelined financially, with approximately 5% having bank balances exceeding N500,000.

"The major correction being made by Mr. President now is addressing this disparity," stated Edun, underlining the government's commitment to implementing microeconomic reforms aimed at fostering economic inclusivity.

Furthermore, Edun outlined measures undertaken to consolidate government revenue, particularly funds previously held outside the federal government's consolidated revenue accounts, emphasizing the significance of these reforms in promoting financial transparency and accountability.

---

Posted: at 24-02-2024 09:04 PM (1 year ago) | Addicted Hero

 

Posted: at 24-02-2024 09:37 PM (1 year ago) | Addicted Hero

Others are being saved in the warehouse

Posted: at 25-02-2024 01:34 AM (1 year ago) | Upcoming

That statistics is wrong and unfounded... The percentage is below 2% of the total population... Someone that receive 33k minimum wage, it will take him 9 years to save 500k knowing that he will feed, pay rent and other expenditure from the same 33k.. the life in Nigeria no balance...

Posted: at 25-02-2024 07:07 AM (1 year ago) | Upcoming