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Upgrade of WallStreet Suite for Central Bank of Nigeria

PREFIS has successfully implemented a new WallStreet Suite version 7.4 for Central Bank of Nigeria. Upgrade project to version 7.4 was one of the most successful projects due to the commitment of the whole team, the project went live on time and with very good excellent quality.

Client: Central Bank of Nigeria
Location: Abuja, Nigeria
Founded: July, 1958
Employees: >4000
Product: WallStreet Suite, version 7.4

Michal Misler, Business Consultant have pointed out one of the drivers of this implementation.

"I think the most important think are the motivated people on both sides, so it means if the client has people who are such motivated as CBN team and they want to learn, they can do the best things"

PREFIS is very happy to have such a feedback form Emeka M. Okoye, Projcet Manager of Central Bank of Nigeria who after implmentation said:

"PREFIS exemplified deep knowledge of the Wallstreet Suite, financial industry, instruments and market processes, and professionalism. More importantly was their friendly disposition and patience to work with our team which largely comprised of individual with little or no experience of the system. These qualities were of great value to Central Bank of Nigeria during the implementation project. PREFIS comes highly recommended as the preferred company to engage by any organization deploying the Wallstreet Suite system"

About Central Bank of Nigeria

The Central Bank Act, 1958 (as amended) and the Banking Decree 1969 (as amended) constituted the legal framework within which the CBN operates and regulates banks. The wide range of economic liberalization and deregulation measures following the adoption, in 1986, of a Structural Adjustment Programme (SAP) resulted in the emergence of more banks and other financial intermediaries. The Banks and Other Financial Institutions (BOFI) Decrees 24 and 25 of 1991, which repealed the Banking Decree 1969 and all its amendments, were, therefore, enacted to strengthen and extend the powers of CBN to cover the new institutions in order to enhance the effectiveness of monetary policy, regulation and supervision of banks as well as non-banking financial institutions. Unfortunately in 1997, the Federal Government of Nigeria enacted the CBN (Amendment Decree No. 3 and BOFI (Amended)] Decree No. 4 in 1997 to remove completely the limited autonomy which the Bank enjoyed since 1991.