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Nigerian Banks has been urged to adjust to developments that may arise as a result of the African Continental Free Trade Area Agreement. This was made by the Ex- Governor of the Central Bank of Nigeria, Professor Charles Soludo.
Professor Soludo, who is also a member of the Economic Advisory Committee to the President, spoke during the 2019 Nigerian banking sector report launched by Afrivest in Orietal Hotel, Lagos on Tuesday.
He said, “What kind of banking and financial system do we really need to be able to power the Nigerian and African economy in view of the African Continental Free Trade Area agreement?”
Soludo ask “What should be the next level for the banking industry and how should the banks adjust to the disruptive changes that must all come to able to move the banking sector forward to that level that is able to power Nigeria economy to where we expect in the next five to ten years?
The member of the Economic Advisory committee to Mr President commended Afrinvest for their consistence, the first of its report was actually made in the 2005, during the banking sector consolidation year.
“See how time flies, most of the comparism (data) centered on Africa, gone are those days when we go to an event, where Nigeria is being discussed, and the examples given were China, Singapore etc, but the real key point now is relevant examples now here in Africa,” he said.
Soludo therefore charged Afrinvest to always put Nigeria in the right direction. “The country couldn’t be doing things same way and expect different results.” he ended.
Photo Caption: From Left–GMD, Afrinvest, Ike Chioke, CBN Governor/Special Guest of Honour, Charles Soludo, Founder, Ygroup holdings/Chairman, Afrinvest Securities Ltd, Fatumata Soukouna Coker, GMD, Xcellon Capital, Chamberlin Peterside, Chief Launcher/Wife of Edo State Governor, Betsy Obaseki and others, during Afrinvest 2019 Nigeria Banking Sector Report Launch, held in Lagos on 18/11/2019, Photo ABIODUN OMOTOSHO
