Governor of the Central Bank of Nigeria, CBN, Olayemi Cardoso and his deputies attended their maiden Bankers’ Committee Annual Retreat on Friday in Abuja, themed “Contract And Commitment To National Development And Economic Growth”.
Cardoso told the committee that solutions to challenging periods must be equally robust.
“The work before us requires focus, innovation, and unwavering resolve to reshape our collective future,”
“Today, we gather to explore bold solutions for a brighter Nigeria. Together, let’s foster innovation, close skill gaps, and build a more inclusive economy”, the CBN Governor said.
Cardoso went further to say that the retreat was not just a forum for dialogue but a call to action. Adding that with collaboration, innovation, and focus, the committee could reshape Nigeria’s future.
To drive home his point, the CBN Governor asked the banks’ MDs and CEOs five important questions:
· What steps must the committee take to improve the business environment for all—large corporates, SMEs, and others?
· How can the committee better leverage public-private partnerships for infrastructure development?
· What are the most effective ways to close skill gaps in the banking workforce?
· How does the committee foster an ecosystem that nurtures and supports innovation?
· Crucially, how can the committee reinforce its social contract with the Nigerian people to build a more inclusive economy?
Cardoso whose attendance at the annual retreat was his first since becoming governor of the apex bank in September, 2023 acknowledged the difficulties faced by Nigerians, assuring that the government and the private sector are both working to make things better.
Meanwhile, Vice President, Kashim Shettima in his address at the 2024 Bankers’ Committee annual retreat asked that the lingering issues of cash scarcity in banks and exploitative charges by the point-of-sale (POS) operators, which have been a source of frustration for Nigerians be looked into.
The Vice President represented by Dr Tope Fasua, the Special Adviser to the President on Economic Matters emphasised the need for swift action to enhance financial inclusion and restore public trust in the banking sector.
“We want to make this an opportunity to appeal strongly to the committee to orderly clear up sundry issues in the sector, some of which are impeding the government’s efforts at financial and economic inclusion”.
“There seems to have been some moral hazard and other selection problems with the involvement of street-type POS merchants”.
He mentioned the commitment of President Bola Tinubu’s administration to reducing Nigeria’s debt-to-GDP ratio to about 30% by the first quarter of 2025.