Nigeria’s President, Gen. Muhammadu Buhari has commended Nigerian banks, representing them as the most vibrant, creative and innovative sector in Africa.
President Buhari, who spoke at a Stakeholders Engagement with the Chartered Institute of Bankers of Nigeria (CIBN), in the country’s capital, Abuja, commended the banking and finance industry’s collaboration with the Central Bank of Nigeria (CBN).
He shared his awareness of the challenges that banks face, one of which is lending to the real sector, noting that his government is also facing such challenges.
President Buhari urged the state governments to help address the issues by simplifying land acquisition matters and promised to look into the other concerns of the industry. He expressed his pride in Nigerian banks and further urged them to continue to be great ambassadors of Nigeria as they expand within Africa and beyond.
Meanwhile, CBIN’s President of Council, Dr. Uche Olowu, acknowledged President Buhari’s political devotion to rebuilding the economy, he stated the commitment of the industry to ensuring a stable and secured financial system in Nigeria.
Olowu stated that banks would manage all subsisting intervention funds set up toward ensuring education for all and enhancing its quality in the country.
As prescribed by the United Nations Development Programme (UNDP), CIBN reaffirmed its call for the creation of an Education Development Bank, which will facilitate the achievement of a 21 percent budget ratio for education.