CBN Bankers Committee Assures’ Investment Community Despite Global Upheaval

Despite the mixed signal coming from the global economy, the Central Bank of Nigeria (CBN) and bankers committees on Thursday June 14, 2018 has assured Nigerians and the investing community that the CBN has enough reserve to withstand any external shock.

CBN director of banking supervision Ahmad Abdullahi disclosed this to financial journalist in Lagos.

Abdullahi noted that the bankers committee also recognized the positive outlook in the domestic economy, particularly in the area of inflations and Gross Domestic Products (GDP). The committee said they discussed about financial inclusion and the plans to attract 40 million unbanked into the system in the next three years.

The committee pointed out that the currency swap with the Republic of China was discussed, with plans to give incentives to importers that brings invoices with Renminbi. The issue of cyber-attacks in the financial system was highlighted. The committee said banks have been mandated to strengthen their securities operating systems.

Other banks chief executive officers that briefed journalists, includes Kennedy Uzoka of United Bank for Africa Plc, Demola Shogunle of Stanbic IBTC Bank Plc, Adesola Adeduntan of First Bank Nigeria Limited and Obeahon Ohiwerei of Keystone Bank.

Photo Caption: Central Bank of Nigerian Governor Godwin Emefiele

Post Author: Friday Ekeoba