Bankers’ institute rallies support for ailing economy

The Chartered Institute of Bankers of Nigeria (CIBN) has declared the task of reviving the nation’s ailing economy as requiring the collective efforts of institutional, individual and corporate stakeholders.

Besides, it also called for pragmatic policy framework and interventions that would address the lacklustre performance of the economy.

The President of CIBN, Prof. ‘Segun Ajibola, made the observations at the investiture into the Fellowship and Honorary Senior Membership cadres of the institute in Lagos.

He noted that even most banks and allied financial institutions are preoccupied with the burden of loan recovery and the tidying up of their books from huge debt exposures.

He lamented that while the pressure on foreign exchange still persists despite government and regulatory institutions’ efforts to address it; unabated inflation rate has also resulted as a consequence of rising costs.

He charged the 150 key operators in the banking and finance and allied industry as well as the academia being admitted into the Institute’s Membership cadres, to see it as a clarion call and apply their extensive experience in the course of reclaiming the economy from comatose state.