More credit facilities will deepen financial inclusion — CIBN

The Chartered Institute of Bankers of Nigeria (CIBN), has reiterated the need for creation of more credit facilities, to boost lending and deepen financial inclusion in the country.

Mr Uche Olowu, President and Chairman of Council, CIBN, said this at a press conference on the Institute’s 12th Annual Banking and Finance Conference scheduled to hold from Sept. 24 to Sept. 25 in Abuja.

It was reported that the theme of the Conference is: “The Future of the Nigerian Banking Industry – 360°”.

The theme of the Conference is structured to offer direction to Nigerian Banks and other Financial Institutions on how to reposition the Industry for relevance in the new world order, by leveraging on digitalization, a phenomenon that has brought about a lot of unprecedented disruptive innovations in the Industry.

Olowu said that the banking sector remained a key driver of the nation’s economic growth and development.

“Banking is pivotal to economic growth, so the right dosage of credit is required to create that robust environment for economic activities,’’ he said.

According to him, the borrowing and lending culture also needs to be changed and there should be no hiding place for perpetual borrowers that will borrow money without intention to pay back.

The president said that the 2019 annual conference would be hugely supported First Bank of Nigeria Plc (FBN) which was celebrating its 125 years in Nigeria.

Dr Adesola Adeduntan, Chief Executive Officer, First Bank of Nigeria, said the conference was an annual forum of professionals in the Banking and Finance Industry, while many dignitaries were also expected at the event.

Adeduntan, also Chairman of the Conference Consultative Committee, said that resolutions at the Conference would be available to all the relevant stakeholders and policy makers to enable them re-appraise and align their operations and strategies in line with global best practice.

He said that this year’s edition of the Conference is very unique,’’ first because of its concentration on the future of banking and financial services in Nigeria in particular and the globe at large.

“Secondly, it is unique for us at First Bank of Nigeria Limited, as it coincides with our 125th Anniversary.

“This is not just because we are the first bank to be established in West Africa, but much more because we have been woven into the fabric of society and can feel FirstBank in every other institution and every aspect of the economy.”

Adeduntan said the forum would provide opportunity to brainstorm on strategic issues that were critical to building a sound and sustainable financial system and economy.

He said that this year’s edition was expected to attract about 1,000 professionals from within and outside the country.

According to him, CIBN branches across Africa will be part of the conference.