Buhari commends CBN, for financial system stability

President Muhammadu Buhari, on Tuesday commended the Central Bank of Nigeria (CBN) for diligently working towards achieving financial system stability in Nigeria.

Buhari gave the commendation in his adress at the 15th Annual Banking and Finance Conference organised by the Chattered Institute of Bankers of Nigeria (CIBN) in Abuja.

It was reported that the theme of the conference is “Repositioning the Financial Services Industry for an Evolving Glocal Context.”

The president was represented at the event by the Minister of Finance and National Planning, Mrs Zainab Ahmed.

He said the theme was apt in view of the need to constantly adapt to internationally acceptable best practices to improve the efficiency and effectiveness of the sector.

He also commended the Nigeria Deposit Insurance Corporation (NDIC) and the Security, Exchange Commission (SEC), National Insurance Commission (NICOM) and other stakeholders for their contributions.

He pledged the government’s support to the banking and financial sector of the country.

“Let me seize this opportunity to commend the regulators of the industry, (CBN, NDIC, SEC NICOM) for their diligent work which has ensured financial system stability in the country over the years.

“I wish to also assure the entire banking and finance community that government will continue to support the industry in all appropriate ways.

“Government will ensure that the sector continues to deliver on its mandates while creating value and innovation for its customers,” he said.

The president called on Nigerians to exploit the country’s comparative advantages for economic growth and prosperity.

“We need a Nigeria of the future that harnesses her strengths, competences and cultural diversity to tackle the challenges that plague her people.

“From climate change to pandemics, and insecurity.

“Government will continue to formulate and implement policies that are aimed at promoting self-sustenance in critical areas such as energy, agriculture, health, technologies,” he said.

The conference was attended by stakeholders from both the public and private sectors, including the Speaker of the House of Representatives, Mr Femi Gbajabiamila and the Lagos State Governor, Mr Babajide Sanwo-Olu, who were both represented.