Laud the measures taken by the regulatory agency so far
Following remarkable growth recorded in the sector, financial experts on Tuesday urged the Central Bank of Nigeria (CBN) to take the necessary measures to ensure that the banking industry regained public confidence.
The former President of the Chartered Institute of Bankers of Nigeria (CIBN), Maxi Unegbu, advised the CBN to focus on improving the banking industry, describing it as the molecule of development in any economy.
Unegbu noted that a great economy can only be premised on a healthy banking sector, adding that the government should be concerned about the performance of the banks even though they are private sector institutions.
In his contribution, Segun Aina, the current President of the Institute, noted that Nigerian banks had performed well, compared to their counterparts all over the world, in spite of the many challenges they had experienced in the past two years.
The CIBN boss said that with the CBN intervention, the banks were getting stronger and were now in a better position to provide loans to various categories of people.
He called for the training and re-training of bank staff in view of the risks they faced.
“There is the need for training and re-training of staff to mitigate the challenges that can arise from the risks.”
Lugard Aimiuwu, the President of the National Institute of Marketing of Nigeria (NIMN), urged that the CBN and other banks should evolve different funding mechanisms for the various sectors of the economy.
Aimiuwu said that although banks were already involved in micro lending to small and big industries, there was still the need for improved access to credit facilities to enhance productivity.
He advised the Federal Government and the CBN to continue to evolve new schemes and programmes to support various sectors of the economy.
This, he said, would ensure continued growth of the nation’s economy.
